The California Association of Realtors has established a fund to assist first time buyers who unexpectedly lose their job after the purchase of a home.

The Housing Affordability Fund is 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 the possibility of 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)

I will happily provide the application form for all first time buyers who use my services in the purchase of a home.