BrokerageIndustry News

Long & Foster offers payment protection

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Long & Foster Real Estate Inc. is the latest real estate brokerage to offer a mortgage payment protection program for homebuyers, providing up to six monthly payments of $1,800 each during a two-year coverage period if a homebuyer is laid off, the company said. The payment protection is provided by the seller, and is an extension of Long & Foster's existing "Buy Confident" campaign, which also promises that Long & Foster's affiliated lender, Prosperity Mortgage Co., will match the best available rates in the area or pay $500 at closing. Like similar programs offered by Keller Williams South Florida Region and builder Lennar Corp., Long & Foster's job loss protection program is provided through the Rainy Day Foundation and underwritten by Virginia Surety Co. Inc. The California Association of Realtors and Pittsburgh, Pa.-based real estate broker Howard Hanna are offering payment protection programs underwritten by Fortegra Financial, which does busi...