Program Uses Job-Loss Coverage to Lure Home Buyers

November 13, 2010  |  

(AP) — With job-loss fears keeping many on the housingmarket’s sidelines, California’s real estate agents’ association has devised a scheme that uses unemployment insurance to lure wavering buyers into the fray. The California Association of Realtors program allows home sellers to fund insurance plans that pay buyers up to $1,500 a month toward their mortgages for six months if they’re laid off from their jobs.  The so-called Home Payment Protection Program is a nod toward the role job concerns are playing in the housing market, especially in high-unemployment states such as California, where 12.4 percent of the population remains without work.

Read More…

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN