San Diego Coastal Properties Company Discusses Hot Mortgage Protection Programs Now Available

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 26, 2009 -- Where can you go to get the latest up-to-date information, and how do you find a “trusted” source? Re/Max Coastal Properties, a property management company that specializes in San Diego coastal properties, can help you learn more about the San Diego real estate market and mortgage protection programs.

Did you know that all “Real Estate Agents” are not “Realtors®”? A Realtor® is a member of the Local, State, and National Association of Realtors®, and as such, subscribes to a strict “Code of Ethics.” But more than that, a Realtor® has access to, and knowledge of, information on the latest real estate options and programs, not only those offered by the Obama Administration, but programs and services offered by the State and National Association of Realtors®.

Many Housing Analysts predict that the most hard-hit areas of the country, such as Sacramento and San Diego, will be among the first to recover, and one positive trend is “Affordability.” Chief Economist for the California Association of Realtors® (C.A.R.) Leslie Appleton Young notes that the increased incidence of multiple offers is an indicating factor that first-time home buyers and investors are responding to dramatically improved housing affordability.

“Low mortgage rates and house prices, coupled with the federal first-time Home Buyer tax credit, is having a definite impact on the California housing market,” states Young.

Because the California Association of Realtors® recognizes the importance of sustaining affordability and the important role first-time Home Buyers play in the recovery of the real estate market, the Association has recently launched the “Mortgage Protection Program” for first-time Home Buyers. C.A.R.’s Housing Affordability Fund is dedicating $1 million towards the program and expects to assist approximately 3,000 households in the first year.

Through the Housing Affordability Fund Mortgage Protection Program, first time Home Buyers who lose their jobs due to layoffs may be eligible to receive up to $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 as well. Program benefits also include Coverage for Accidental Disability and a $10,000 Death Benefit too.

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 December 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 for their REALTOR®

For more information on this program, contact one of the highly experienced real estate professionals at Re/Max Coastal Properties .

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