The Nehemiah Corporation of America will now offer a mortgage payment protection insurance policy for families who receive a down payment gift from the group.
The service will cover up to six months of the buyer’s mortgage payments during the first year, should an unforeseen event occur.
MortgageGuardian coverage begins on the date of the loan closing and ends 12 months from the closing date. It will cover up to $1,500 per month.
“We are confident that providing mortgage protection insurance will help secure our recipients’ future, as well as provide a level of security to the holders of their loans,” said Scott Syphax, president and CEO of Nehemiah.
The Sacramento, Calif.-based nonprofit Nehemiah Corporation of America was founded in 1994 to increase home ownership opportunities. Its flagship program provides down payment assistance to home buyers.
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