A Payment Protection Plan for Home Buyers Who Lose Their Jobs?
I’ve been interested to see how the tax incentive is being handled in other parts of the country and found some interesting things going on. Washington State is implementing a program in which a first time home buyer will be able to use the federal first time home buyer tax incentive towards a down payment. In California buyers of new homes receive a state incentive.
A payment protection plan for home buyers w ho lose their jobs? We’ve seen the commercials from KIA for car buyer programs and other car manufacturers are getting with that program, but I haven’t seen many for home buyers. Long and Foster, a large east coast brokerage is now offering such a program to buyers who use their affiliate mortgage company and buy one of the company listings. The program offers up to 6 months of payments during a two year period. Each payment would be a maximum of $1800. Similar programs are happening in Florida and with home builder the Lennar Corporation in Las Vegas.
What have you heard happening around the country to stimulate the housing market? Is payment protection a good idea?
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