Clayton Homes
KNOXVILLE, Tenn. – With economic uncertainty keeping some people from buying homes, Clayton Homes is taking steps to try and ease their concern by offering new homebuyers some help if they unexpectedly lose their job.
“We’re making this commitment: if someone buys a home and then loses their job because of the economic downturn, we will make payments on their home for three months,” said Kevin Clayton, President and CEO. “It won’t cost the buyer a dime.”
The goal is simple: encourage people to get into new homes and help them stay there, which should be good for the home buyer, good for the housing industry and good for the ailing economy.
“We hope no Clayton home owner ever needs this help, but we know by offering this benefit we can help ease some concerns and help more families become home owners,” said Clayton.
The Payment Protection Program is applicable for new homes purchased between now and the end of June. If the monthly mortgage payment includes homeowners insurance and property taxes, Clayton absorbs those costs as well.
The program was designed with potential first-time home buyers in mind, who can also take advantage of the $8,000 tax credit passed as part of the Economic Recovery Act. “Similar programs to help homebuyers have given them a tax deduction, in effect reducing their taxable income,” says Clayton. “This program actually reduces the taxes they owe dollar for dollar over a three-year period. That’s a huge difference.”
Clayton, a Berkshire-Hathaway company, has built more that a million homes since 1934. More information is available at www.claytonhomes.com.
About Clayton Homes: A Berkshire-Hathaway Company, Clayton Homes is a national, vertically integrated housing company. Through its family of brands, Clayton Homes builds, sells, finances, leases, and insures a full spectrum of affordable housing and is the nation's in housing. Visit Clayton Homes at www.claytonhomes.com.
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