Saturday, November 14, 2009

Mortgage Protection from C.A.R. and HAF

A message from the California Association of REALTORS® and the Housing Affordability Fund.








What is the Mortgage Protection Program? Through the California Association of REALTORS® (C.A.R.) 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 up to 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.








How do I qualify? To qualify for the Mortgage Protection Program, applicants must:*- Be a first-time home buyer – someone who has not owned a home in the last three years- Open escrow April 2, 2009, or later, and close on or before December 31, 2009- Use a California REALTOR® in the transaction- Purchase the property in California- Be a W-2 employee (cannot be self-employed)








How do I apply? If you are interested in applying, you may request an application for the Mortgage Protection Program from your REALTOR®.








*For more information, including application requirements and possible restrictions, please visit:www.car.org/aboutus/hafmainpage/carhafmortgageprotection/

Saturday, November 7, 2009

How much of my remodel cost will I get back?

Every year the National Association of Realtors publishes a report from the remodeling magazines that estimate the cost vs. value of common remodel projects. Remember, this is an estimate and not a scientific study.








It's very interesting to see what percentage of your investment is likely to be returned in different parts of the country.








Here is a link to the report for 2008.