The GANDY GUARANTEE Qualification AGREEMENT
Gandy will pay your mortgage principle and interest payments for up to 12 months while you are unemployed during the first two years if:
- You contract to purchase a Gandy home between 1/14/09 and 3/31/09 and close on it on or before 4/30/09 and have a job and are in good standing with your employer as of your house closing date.
- You lose your job due to a lay-off and your former employer certifies you were laid-off and were not terminated or quit.
- You have filed for and received unemployment benefits.
- You provide Gandy with a copy of your unemployment benefits check each month.
- You are and have been current on your mortgage payments prior to your lay off.
- You have paid two (2) consecutive mortgage payments.
- Your home is owner occupied by you the buyer/buyers.
- You allow Gandy to make the mortgage principle and interest payment directly to your mortgage holder.
- Your mortgage loan was approved with two (2) incomes Gandy will pay the full mortgage principle and interest payment if both homeowners are unemployed and one half the payment if only one homeowner becomes unemployed.
Funds for future claims will be deposited at closing with the law firm of Lutzel and Broadway, PLLC. All claims will be processed and administered by this firm.
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