On
Thursday, April 2, 2009 the Housing Affordability Fund has launched a
new program designed to provide peace of mind to first-time buyers who are
hesitant to enter the housing market due to concerns about potential job
loss, and subsequently being unable to meet their monthly mortgage
obligations.
To qualify for the Mortgage Protection
Program,
Applicants
must:
.
· Be a first-time home buyer – someone who has
not owned
a home in the last three years.
·
Open escrow April 2, 2009, or later, and close on or before
Dec. 31, 2009
· Use
a California REALTOR® in the transaction
·
Purchase the property in California
·
Be a W-2 employee (cannot be self-employed)
For a copy of the
MPP Application Click
here.
This form
must be submitted by an active California
REALTOR® to apply.
For examples on how the program works Click
Here.
For a list
of Frequently Asked
Questions Click here