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Even in a down economy, there is now reason to go ahead with purchasing a new home. In addition to helping first time home buyers through tax credits, the Housing Affordability Fund is offering help to protect first time home buyers with mortgage payments should they be faced with unemployment due to layoffs. Beginning August 1st, 2009 the C.A.R.H.A.F Mortgage Protection Program will offer $1,500 per month for up to six months to help those faced with unemployment make their mortgage payments while in-between jobs. A qualified co-buyer will also be eligible for the program, and may receive a monthly benefit of $750 per month for up to six months as well.
For more information about the California Association of Realtors visit www.car.org or click on the link below to learn more about the California Mortgage Protection Program.
California Mortgage Protection Program
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