Long & Foster offers job-loss protection to home buyers

Long & Foster® Real Estate, Inc., the largest privately held residential real estate company in the U.S., announced today the implementation of a job loss protection program for homebuyers as an extension of their ongoing Buy ConfidentTM campaign.”Although this is a great time to buy residential real estate, for many, there’s still a lot to consider,” advises Mary K. Weddle, executive vice president of The Long & Foster® Companies, “In this uncertain market, be sure to have a good agent who can help you to fully assess your situation. Long & Foster is proud to be one of the first real estate companies to offer job loss protection to help buyers and sellers make real estate decisions with a greater degree of confidence.”

Many potential homebuyers are concerned about what might happen if they were to lose their job. Long & Foster’s new Job Loss Protection program, part of the service called HELP (Homeowner Education and Loan Protection) from the Rainy Day Foundation, will help to ease the worry. It’s paid for by the seller.

The Job Loss Protection portion of HELP will assist buyers who purchase a Long & Foster listing covered by Job Loss Protection in the event of an involuntary job loss within the first 24 months of the loan. The policy covers mortgage payments up to $1,800 per month for up to 6 months. HELP also offers six months of phone counseling and monthly educational e-newsletters. Job Loss Protection is an important and timely service that gives sellers a way to differentiate their property and give buyers the confidence to purchase.

The coverage is underwritten by Virginia Surety Co., Inc. that has an A-Excellent ranking by A.M. Best. Please see a Long & Foster agent for additional details. To locate an agent, visit longandfoster.com.