California Realtors Offer Mortgage Assistance for Unemployed


The California Association Of Realtors recently launched a new program that allows home sellers to purchase mortgage protection coverage and offer it as an additional incentive to home buyers who purchase their home.


• The “Home Payment Protection Program” (HPPP) is available through California realtors who offer it to sellers at the time the property is listed.  HPPP is optional, is paid for by the seller, and costs either $200 or $275, depending on the amount of coverage the seller elects to purchase.
• The program covers both first-time and repeat buyers for 12 months from escrow closing. If the home buyer loses his or her job as a result of a layoff during the qualified time period, HPPP will pay the buyer up to six monthly payments of up to either $1,000 or $1,500, depending upon the level of coverage the seller chose at the time of the listing.  
• The payment for HPPP is made at the time of closing, per the seller’s escrow instructions.  HPPP remains on the property for as long as it is listed with the REALTOR® under the original listing contract.  The buyer cannot renew, extend, or enhance the coverage under the HPPP, nor purchase it independently.  
• Sellers who would like to offer the Home Payment Protection Program should ask for an application from their realtor who can find information about the program and an application at www.cynosurefinancial.com/car.

Let’s take a look at a few Christmas presents you can buy yourselves from the extreme to the affordable. . .

1218 PORTOLA ROAD, Pebble Beach MLS #: 81056618 $3,750,000 Beds: 4 Baths: 5 (3/2) 
Gorgeous estate with outstanding OCEAN VIEWS overlooking Cypress Point Golf Course. Completed in 2008, home exemplifies the best of classical features w/ modern conveniences. Open floor plan, cathedral ceilings, Brazilian Cherry floors, radiant heat, slate roof, custom fireplaces, gourmet kitchen, 3 car garage, 2 fully fenced acres, short distance from the Lodge, perfect blend of privacy & convenience.  SqFt: 6,000 Lot Size: 91,955 Sqft

1410 MANOR ROAD, Monterey MLS #: 81056834 $1,525,000 Beds: 3 Baths: 4 (3/1) 
Walking into this primarily single story home, you notice the luxurious amenities throughout. The incredible gourmet kitchen opens to the dining & family room surrounded by huge picture windows that show a big, private backyard w/outdoor kitchen. The master suite boasts private patio, 2 large walk-in closets & spa-like bath. Upstairs is a full apartment w/KIT & separate entrance. 5 car garage is great perk!  SqFt: 3,255 Lot Size: 77,305 Sqft

501 TOYON DRIVE, Monterey MLS #: 81057556 $530,000 Beds: 3 Baths: 2 (2/0) 
Attractive Toyon Heights home. Large deck in back overlooks the canyon. Freshly painted & carpeted--just move in. Hardwood floors under carpeting.  SqFt: 1,250 Lot Size: 17,226 Sqft

46 LOS ENCINOS DRIVE, Del Rey Oaks MLS #: 81056342: $449,000 Beds: 3 Baths: 2 (2/0) 
Beautiful home with hardwood floors throughout main areas and custom tile in kitchen. Large "eat in" kitchen, inside utility room, newer double pane windows except kitchen.  French door, newer roof, newer furnace and dishwasher, lots of skylights, and a huge rear yard. Beautiful views from living room. Fireplace. Home is in lovely condition!  "tree house" in rear yard.  SqFt: 1,241 Lot Size: 14,500 Sqft

300 GLENWOOD CIRCLE,#302, Monterey MLS #: 81056346 $200,000 Beds: 1 Baths: 1 (1/0) 
Top of the line one bedroom condo.  Granite counters, hardwood floors, stainless steel appliances. Largest one bedroom floorplan.  SqFt: 760

© Patty Ross, KRXA Radio Show #187  December  17, 2010