Creative Financing 101 » realtors http://creativefinancing101.com Guide to Zero Down, Bad Credit, FHA, Seller Financing, and Hard Money Loans Sat, 06 Mar 2010 00:37:43 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 California Realtors: Lose Your Job? We’ll Pay Your Mortgage http://creativefinancing101.com/20272/california-realtors-lose-your-job-well-pay-your-mortgage/ http://creativefinancing101.com/20272/california-realtors-lose-your-job-well-pay-your-mortgage/#comments Fri, 03 Apr 2009 01:40:30 +0000 Jamie Beck http://creativefinancing101.com/?p=272 remax
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.

Creative Commons License photo credit: TheTruthAbout…

See Also:

Seller Financing Guide

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