Should Mass. adopt a mortgage protection act like California?

After researching several States latest legislation one idea in California is worth a detailed look.

“The Mortgage Protection Program is a great program if you have concerns about job security. The program is specifically designed for first-time home buyers.

The California Association of REALTORS Housing Affordability Fund is offering protection from job loss or accidental death or disability. CARHAF has committed $1 million to provide this program to qualified home buyers.

Through the program, first-time home buyers who lose their jobs or become accidentally disabled may be eligible to receive up to $1,500 per month for up to six month to help make their mortgage payments.

A qualified co-buyer can also participate in this program, for a reduced monthly benefit of up to $750 per month for up to six months in the event of a job loss or disability. In addition, the program offers a one-time $10,000 accidental death benefit.

The great thing about the program is that it’s absolutely free!! The California Association of Realtors is trying to make Brentwood and Antioch home buyers feel less pressure from buying a home.

For more information on this program and programs like this please visit the California Association of Realtors at: www.CAR.org“