A North Texas builder has rolled out a mortgage payment protection plan for home buyers who fear losing their jobs, and it has boosted sales by 50%. The Dallas News reports:
Megatel Homes — which has projects throughout the Dallas-Fort Worth area — is agreeing to pay up to six months of mortgage payments if a new homeowner loses his or her job after the purchase.
“Most of the people coming into our model homes were evading buying a house now because they could lose their jobs,” Megatel co-founder Zach Ipour said. “That’s a concern a lot of people have that currently have a job — what if they get laid off three months down the road?”
To make buyers more comfortable, Megatel is offering to cover the mortgage payments if the customer’s job goes away.
The program is available for houses in the company’s completed inventory.
