The C.A.R.H.A.F. Mortgage Protection Program, which ran from April 2009 through June 2010, was offered by C.A.R.’s Housing Affordability Fund at no cost to the consumer, and provided up to $1,500 per month, for up to six months, to eligible first-time home buyers who lose their job due to layoffs.


Following on the success of the C.A.R.H.A.F. Mortgage Protection Program, C.A.R. is launching Home Payment Protection Program (HPPP), a similar program that pays a home buyer’s mortgage if he or she is laid off.

The program covers both first-time and repeat buyers for 12 months from escrow closing and provides up to six mortgage payments up to $1,000 or $1,500, depending on the coverage level the seller chooses.  A seller can choose to pay $200 for six mortgage payments up to $1,000 or $275 for six mortgage payments up to $1,500.

The Home Payment Protection Program is offered by REALTORS® to sellers at the time of listing as an added incentive to prospective buyers.  The program is paid for by the seller and is completely optional.

Labels: New 1st time home/condo buyer, repeat home/condo buyers program from C.A.R. Orange County, Southern California Real Estate program

It's been a while since I have posted. Figured it was time to get serious!!!
As you can see on the chart to the right, 50% of the home sales in October 2010 are $499K and below. What does this mean to you? If you can qualify for a FHA product, or think about listing, this is a perfect time to get into escrow. If you are thinking about listing or shopping for a home, be aware of the price ranges that are selling. Feel free to subscribe to my blog to keep up with the current trends in the Orange County housing market.

Labels: Orange County, Orange County Home Sales, Real Estate statistics