The Real Deal Miami

Lennar offers job loss backup option

March 02, 2009 02:50PM

Miami-based homebuilder Lennar Homes has unveiled a program that would pay the mortgage of a new buyer of one of its properties for six months in case of a job loss. Paul Brooks, Lennar’s director of sales and marketing for Central Florida, said the cushion reduces potential homebuyers’ fears about the risk of purchasing a house in a shaky economy. The Peace of Mind program, as Lennar describes it, is available 60 days after closing and lasts for 24 months. During that time Lennar will cover a monthly mortgage payment of up to $2,500 if an owner loses his or her job.