First Weber offers the Job Loss Protection Program as an optional* seller-funded mortgage protection program to help homeowners with mortgage payments if they experience a loss of employment.
The Job Loss Protection Program is part of the HELP (Homeowner Education and Loss Protection) program administered by the Rainy Day Foundation.
Job Loss Protection (HELP)
Homeowner Education and Loan Protection
HELP Program – The RAINY DAY FOUNDATION (501c3) provides education and financial protection to homeowners for life’s unexpected events. Founded in 2003, it is chartered to assist homeowners in creating and maintaining financial wellness. This is accomplished through communication, education, counseling and financial assistance if necessary. Four critical components make up the HELP program.
Counseling, Protection, Education and Financial Assistance
24 Month Homebuyer Counseling: The homeowner will be contacted shortly after closing by the Rainy Day Foundation to fully explain the HELP Program. The buyer will learn of the educational assistance and financial resources provided by the HELP Program. The HELP Program will assist the buyer in creating a successful (on time) relationship with their lender in the critical first two years of home ownership. Optional outbound calls to the homebuyer will be made available for the first six months. This service will continue for the next 18 months inbound from the buyer.
This program provides up to 6 monthly mortgage payments during the first 24 months of the loan.
24 Month Job Loss Protection: Today the number one reason for mortgage default is loss of employment. This is why the Job Loss Protection Program is such a tremendous benefit. Protecting homeowners from the most common cause of foreclosure is the HELP Program’s goal.
Qualified homeowners who experience involuntary loss of employment will receive up to $2,000 per month (PITI) for a maximum of six months. (See DETAILS in box shown below.)
24 Month Homebuyer Education Newsletter: HELP provides sound financial tips and information resources to assist the homeowner in maintaining financial stability. This communication will be delivered monthly for the first 24 months of ownership. The Newsletter provides instructive service developed to give the homebuyers the knowledge and tools necessary for them to become successful long-term homeowners. Each Newsletter will place a heavy emphasis on the home budgeting process, mindfulness about spending money, ways to save on expenses and how to create and implement a personal savings strategy.
24 Month Access to the Emergency Relief Fund: This service may provide homeowners with assistance for any other type of unforeseen financial difficulty. In short, this program will be a safety net for homeowners should they experience a short-term financial challenge. The assistance HELP provides may be financial, educational or both.
(*) Terms and conditions apply. Void where prohibited by law. Programs and services subject to change.
To request further information, please contact James R. Imhoff
james@uhpwarranty.com at Universal Home Protection.
Disclaimer: *The HELP Program, including the Job Loss Protection is made available by the seller’s enrollment in the Creative Alliances’ SAVE Program. The Sellers Advantage via Exposure is an optional multi-faceted program which includes the HELP Program.
Job Loss Protection (HELP)
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The Rainy Day Foundation’s HELP Program (Homeowner Education and Loan Protection) includes a Job Loss Protection Program that protects homeowners if they experience a loss of their employment. Many Americans today are concerned with job stability and how they are going to make their mortgage payments if they lose their job. MSNBC reports “fear” will keep 50% of the potential buyers out of the home buying population. The unemployment coverage included in the Rainy Day Foundation’s HELP Program assists in keeping homeowners current on their mortgage payments each month so homeowners can minimize their financial stress while they are looking for a job. |
DetailsCoverage PeriodTwenty four (24) months from the closing date of the mortgage. Maximum BenefitThe lesser of the actual mortgage payment (PITI) or $1,800 per month. Benefit PeriodUp to a maximum of six (6) payments during the twenty four (24) month program. Vesting PeriodSixty (60) days from mortgage closing date. If purchaser/s become unemployed during this Vesting Period, there is no financial assistance for this occurrence of unemployment. Waiting PeriodThirty (30) days from commencement of unemployment. Benefits will be retroactive to unemployment date. Eligibility
Contribution ClauseWhen joint mortgagors are involved, benefit amount will be based on the percentage the unemployed person’s income is to total qualifying income at the time of mortgage closing. Conditions
Exclusions
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To request further information, please contact James R. Imhoff
james@uhpwarranty.com at Universal Home Protection.
Disclaimer: *The HELP Program, including the Job Loss Protection is made available by the seller’s enrollment in the Creative Alliances’ SAVE Program. The Sellers Advantage via Exposure is an optional multi-faceted program which includes the HELP Program.