Home Buyers in Charlotte- Mortgage Protection From Bank Of America
November 24th, 2008 Categories: Buy A Charlotte Home, Charlotte First Time Home Buyers, mortgages
Buying a home in Charlotte, NC? First Time Home Buyers and other Charlotte Home Buyers…
Use Bank Of America for Your Mortgage, and Receive one year protection against layoffs, accidents and sickness that hospitalizes you- it pays your Principal and Interest- the PI.
Charlotte, NC| Concern about the overall health of the economy runs deep, and Bank of America has helped home buyers, offering an answer. The tough question? It goes something like this,
“I’ve a great job with a great company, our company is doing well and I’d love to buy a house here in Charlotte, but with all the horrible economic news, what if I buy a home now and business goes bad and I get layed off next summer?”
Now, most of the time the buyer knows this is not likely to happen- knows her (his) company is strong, the Charlotte economy is strong, and that home values are still appreciating in many areas of Charlotte, and she does feel good about her job… or she wouldn’t be looking, but how to still that nagging voice? You know the one! Buyer Protection from Bank of America, is part of the answer to that “What If” question, lets look at the details.
Buyer Protection is an insurance product normally sold with a mortgage,
BOA offer’s it free for the first year. Is there a medical exam? No, but there is a 90 day exclusionary period- so coverage begins on the 91st day after the mortgage is signed. So in the case above, 6 months from now you lose your job involuntarily- a lay off-you can ask BOA to pay up to 12 months of Principal and Interest, in addition to an unemployment you receive, should give you extra peace of mind.
But there is more- suppose 6 months from now your work is fine, the economy is getting better, an you are involved in a car accident and can’t work, for a while, or worse become disabled… we don’t like to think of these things yet we all know they happen to someone somewhere every day – the buyer protection plan from BOA will be there for you in that worst case…
and the cost is, uh, FREE. Really free, no kidding. There are more details, and as with everything in insurance – please read the details to understand your coverage, but his is just another benefit our strategic partnership with Bank of America Mortgage provides to home buyers in the Charlotte area.
These plans are typically expensive and in the past have not been a favorite of mine- but at this price, free, it brings a great deal of peace of mind- and combined with the $7500 tax credit for first time homeowners–they represent two powerful incentives to buy a home in Charlotte in 2009.
The rest of the answer is to only buy in communities that add value, make sure your home fits your needs now and in the future, and buy it at a discount. We are here to help.
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Moving to Charlotte? Your first Charlotte home?
Have a home buying or home selling questions? I am a Charlotte real estate broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day in Myers Park, Southpark, Matthews and Huntersville, Lake Norman, Waxhaw and Lake Wylie too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser.
If you still haven’t figured out where you might want to live in Charlotte, you may compare area Charlotte home prices and communities, from our MLS based home search below. If you havenb’t already, try my my fact-filled and well received Introduction to Charlotte NC Video (over 9000 You Tube views) and don’t miss the FAQ videos-answering the Big Question- Where to live in Charlote, or where to look for a luxury home in Charlotte? (in the right column just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
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