Job loss mortgage insurance giving homebuyers security

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In these uncertain times potential homebuyers continue to sit on the sidelines because they are concerned that a job loss could kill their dreams to own a home.

Innovative job loss mortgage insurance is being offered through mortgage lenders, real estate agents, new-home builders and state and local housing agencies. In many cases this protection is being offered free to the homebuyer as part of their home purchase.

One real estate agent even put out a press release about the "Worry Free" Mortgage Protection."

"The ability to provide home buyers a viable solution to the uncertainty associated with purchasing a home eliminates one of the major obstacles preventing buyers from taking advantage of once in a lifetime purchasing opportunities," Lance Mohr, a Tampa broker, stated. "Interest rates remain near historic lows even as the cost of buying a new or existing home continue to drop; combined with federal tax incentives this is literally one of the best buying opportunities presented in decades. Unfortunately, the fear of job loss and economic uncertainty has prevented many would-be buyers from acting on their desire to purchase a home."