I just got an email from a home builder outlining a plan that they are currently offering new buyers.
If you involuntarily lose your job, they will cover your mortgage for up to 8 months, up to $2000/mo.
There isn’t an additional charge for this program, and it might be a good push for buyers thinking about hitting the market. There are a few reasons that this might be a good time to jump back into the real estate market.
- Look for lenders to increase down payment requirements if the “Cram-Down” bill passes Congress.
- Look for rates to go up because of the increased pressure due to the bailouts from the federal government. The federal deficit is expected to be $1.7T this year… and there are fewer dollars out there to borrow.
- When the market changes direction, it will be 3-5 months before we can confirm it… the best of the deals will be gone by then.
Hyundai put out a similar program… and it HAS managed to build some traction.
The builder is Bowen Family Homes.
By the way, they have 9 different communities here in Gwinnett County, with homes ranging in price from $150,000 to $460,000. So, they have some options available. They also have communities in Cobb, Cherokee, Forsyth and Fulton.
Don’t hesitate to shoot Lane a message if you have any questions, or need any help. And check out the new links for FREE Property Searching, FREE Comparative Market Analysis and FREE Market Reports. They are near the top of the page…
