Real Living HER, the real-estate company based in Columbus, announced yesterday that it will cover some mortgage payments for clients who lose their jobs.
The program is available to those who purchase a home through a Real Living agent and finance the home with Real Living Mortgage. The home must be purchased between June 1 and Aug. 31 and close before Sept. 30.
If the buyer is laid off during the first year of ownership, Real Living will pay up to $1,500 a month on a mortgage for a maximum of six months.
Buyers are covered for an additional year if the home they purchased was listed with a Real Living agent.
Derrow said low interest rates and prices make this a great time to buy a home, but "given the economic uncertainties that exist, we felt … that we needed to provide our potential consumers the added confidence they need to take advantage of the market."
Real Living sets up protection plan
Business First of Columbus
Taking a page from auto manufacturers, Real Living HER has introduced a payment protection plan for home buyers.
Real Living HER, the Columbus region’s largest residential real estate company, announced Thursday that buyers who go into contract with a company agent between June 1 and Aug. 31 will be eligible for six months of mortgage payment protection if they lose their jobs.
Real Living HER is a division of Columbus-based Real Living Inc.
The mortgage payment protection is part of Real Living’s “Peace of Mind Plan,” which pays up to $1,500 per month of a buyer’s mortgage payment if the person involuntarily becomes unemployed during the first year after buying the home.
Eligibility requires buyers to use a Real Living HER agent, close on their home before Sept. 30 and finance the purchase through Real Living Mortgage, the company’s mortgage brokerage business.
Additionally, Real Living HER says it will extend the eligibility of its plan from one year to two if a buyer purchases a Real Living HER listed property.
The company is also offering the plan to homeowners who refinance through Real Living Mortgage.
“In today’s uncertain economy, Real Living HER is investing in programs like our Peace of Mind Plan to provide reassurance,” said Real Living CEO Harley Rouda Jr. in a released statement. “Our intention is to give home buyers added comfort, and help them achieve the American dream of homeownership.”
Real Living will offer plan details on its Web site, reallivingher.com, starting June 1.