Home Price Insurance

As mentioned in Barry Bluestone’s Op Ed in the New York Times, published September 7, 2011:

“Finally, even with the economy in vast disarray, there are millions of credit-worthy families who might buy a home if they were not so worried about seeing their new homes lose value. So the Department of Housing and Urban Development should create a “home price insurance” program that would insure home buyers against catastrophic loss if home prices were to fall. For a $500 processing fee, the two-year program would allow applicants to purchase an insurance plan covering 80 percent of any loss in home value. To benefit from the program, a homeowner would have to keep the home for a minimum of three years and maintain it in good order. The cost to the government is likely to be minimal. “

Read full Op Ed.