A Bail Out for First Time Home Owners?

Do First Time Home Buyers have a bail out??

IF you are a first time home buyer and afraid to buy a home because you may lose your job- well if so, you GET A BAIL OUT. The government will cover you if you do. 

Read on this is taken from the The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

They launched the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), for first-time home buyers.

Through the Housing Affordability Fund Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive $1,500 per month,  for six months,  to help make their mortgage payments.  A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year.  To qualify for the Mortgage Protection Program, applicants must:

· Be a first-time home buyer – someone who has not owned a home in three or more years

· Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009

· Use a California REALTOR® in the transaction

 · Purchase the property in California

· Be a W-2 employee (cannot be self-employed)

To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

Here is a copy for your connvience- your Realtor must submit this form for you.

For examples on how the program works Click Here.
   
For a list of  Frequently Asked Questions Click here 

 The Home Team Girls care about you keeping you home.

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How to downsize your house

Moving can be quite stressful. Many aren’t aware of how many items and mementos they’ve collected until it’s time to pack the moving boxes. Employing a few strategies to assist with downsizing can help reduce
the anxiety of moving.
KEEP THIS IN MIND
• Jim Henderson, president of William C. Huff Companies, a moving and storage firm specializing in affluent homeowners, advises homeowners to begin downsizing at least three to six weeks prior to listing their current home. This will ease the stress of moving day, and help de-clutter the home for potential home buyers.
• Henderson recommends homeowners start downsizing by throwing out or donating items that are not used very often and hold little sentimental value. Often, these types of items are stored in a shed, basement, or attic. Items in the heart of the home, such as the family room and kitchen, are usually those valued and used the most, so they can be packed up immediately.
• Envisioning where each object will fit in the new home is essential. If an object doesn’t fit with the new home or will be useless in a year or two, it is likely that it can be thrown out or donated.
• If feasible, selling the home with the furniture, carpets and other furnishings include will reduce moving costs and could make the home more valuable to buyers.

“Also consider staging as part of your selling strategies. Staging a property with your own furniture and hire a professional stager to help determine what goes and what stays. Pricing is very reasonable and the results can be the determining fact if your house sells or not. With proper pricing and staging, this combo, will determine how fast your home sells.”  Kathy Dyer
To read the full story, please click here

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Relocations, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.