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