We are all anxiously awaiting a housing recovery so that home values and sales will increase and this turnaround will, hopefully, help pull us out of the current recession. The government is offering an $8,000 incentive to new homebuyers (and those who have not owned a home for three years) and, yet, people are still unsure if they want to take the risk. Everyone knows someone who has been through a foreclosure on their home, and no one else wants to go through this heartbreak and major financial setback. The Real Estate Industry and a number of homebuilders and developers are offering a solution to those people who are hesitating to commit to a home for fear of losing their jobs.

One major national real estate chain has developed a job loss protection plan for buyers. The seller of the home purchases the protection for a flat fee of $500 and includes it with the sale of their property. If the buyers lose their jobs within the first two years after they purchase the home, the plan will pay up to $1,800 per month for six months towards their mortgage payments. So many people are living in fear of losing their jobs that this extra insurance may be the extra incentive necessary to help them decide to purchase their new home.

A local builder is offering a similar program but his pays up to $1,500 per month and it is included in the price of the home.

I am certain that many real estate offices and builders will begin offering plans of this type to potential buyers in the hope of removing the stress and worry of job loss while instilling confidence in them to move ahead with the purchase of homes being offered at very competitive prices with low interest rates.