Anyone who is paying even a little attention to real estate knows that in most areas and price points, we continue to remain in a buyers market. There many good reasons to buy a home right now:
1. Interest rates remain close to record lows
2. There is an $8,000 tax credit available to first-time buyers
3. Inventory and selection remains good
4. Considering the builder/seller incentive, foreclosures, etc., there are plenty of good buys out there
Unfortunately as the recession looms on, some buyers are nervous about employment and are hesitant to move forward with their purchase.
Last week Iowa Realty announced a new program – the HELP program from The Rainy Day Foundation. This program is based on similar plans from the auto industry. The essence of the plan is if you lose your job within two years of purchasing your new home, your mortage payments would be covered for up to six months. Some of the details include:
- The plan is funded by sellers at a cost of $500, buyers can’t purchase it themselves
- If two people own a home together and one loses their job, the portion of the mortgage payment is pro-rated
- There is a two month waiting period
You can read more about it by clicking on the link to this flyer:
http://www.desmoineshomestoday.com/docs/help-flyer.pdf
Feel free to call or write if you have questions or would like to discuss the program in more detail.
Iowa Realty 
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