Here’s an interesting new incentive from the California Association of Realtors: if you buy a home through them, they’ll pay your mortgage for up to six months if you get laid off.

The San Francisco Chronicle reports:

“CAR’s offer is essentially like insurance for people who get laid off. It applies to first-time home buyers who open escrow starting today and close before Dec. 31. They must use a California Realtor in the transaction, not be self-employed and be younger than 70. If qualifying people are downsized, they may receive up to $1,500 a month for up to six months to help make mortgage payments.”

It’s certainly an interesting idea. However, people who worry about job security may not want to commit to a mortgage right now – even with such an incentive.

Technically, this deal should work with seller financing purchases, assuming that a Realtor is involved.

photo credit: TheTruthAbout…

See Also:

Seller Financing Guide

Tags | creative financing, real estate agents, realtors, Seller Financing