This program is designed to restore confidence and assist as many as 3,000 first-time homeowners who purchase a home between April 2, 2009, and Dec 31, 2009.
This new program will remove the nagging "what if" scenarios that a FICO score of 850 cannot shield buyers from: job loss, disability, or death of the buyer or co-buyer. If a job loss, or worse, does occur then the protection program is utilized.
C.A.R.H.A.F. has committed $1 million to support this effort. First time home buyers who enroll in the program can draw upon their mortgage protection policy in the event they lose their job after purchasing their home. Under the program, eligible first-time buyers will be able to receive $1,500 / month for six months in the event of a job loss; co-buyers are eligible to receive $750 / month. In the event of the death of the insured, the policy will provide a $10,000 death benefit.
To discuss more about this program. Please do not hesitate to call me / email me to get more specifics.
Jess Mangubat
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