Broker steps us with buyer job-loss protection
2009/03/26, 6:12 pm
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A number of companies, including Keller Williams Realty in South Florida, are offering to cover mortgage payments for borrowers for six months in the event of a job loss.

Keller Williams’ program is for FHA, VA, and USDA (rural housing) loans; and it could eventually be expanded to include conventional financing. To be eligible, households must be able to qualify for unemployment benefits.

The South Florida pilot program could be offered to buyers across the country in the coming months, a company representative says.

Among the others offering job-loss help are companies outside of real estate, including a car manufacturer and a retail car dealer. A new-home builder is stepping in with help, too.

Source: South Florida Sun-Sentinel, Paul Owers (03/26/09)

© Copyright 2009 Information Inc.

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