With the successful completion of its payment assistance plan for homebuyers who are laid off from their jobs, the California Association of Realtors has launched a new program, this one paid for by sellers.Some 5,500 first-time buyers took advantage of the original Mortgage Protection Program, which gave buyers up to $1,500 per month for up to six months if they got laid off.The benefit came at no cost to either the buyer or the seller, but was rather funded by CAR's Housing Affordability Fund, which itself is funded largely through CAR-member donations.That program ended in June. Under the new Home Payment Protection Program, sellers are offered the option when they list their homes to provide layoff insurance as an added incentive to prospective buyers. The program is paid for by the seller and is completely optional.The program covers both first-time and repeat buyers for 12 months from closing and provides up to six mortgage payments of up to $1,000 or $1,500, depending on the coverage level the seller chooses.A seller can choose to pay $200 for six mortgage payments up to $1,000 or $275 for six mortgage payments up to $1,500.CAR President Beth Peerce called the new program "a win-win benefit" for both buyers and sellers."By offering the Home Payment Protection Program as an added incentive to buyers, sellers have an additional way of differentiating their home from others and can sell their home more quickly, while prospective buyers who are feeling uncertain about their employment situation have an added layer of security," she said.Of the 5,500 homebuyers offered protection under the previous insurance program, 158 claims have been paid and five more are pending, according to spokeswoman Lotus Lou.Rookie owner Clifton Wade was one of the covered buyers who became unemployed. "The Mortgage Protection Program helped me by providing much-needed income to help make my mortgage payments," said Wade, who has been receiving assistance since September. "It has eased a lot of my worries, even if only for a short time."CAR's Housing Affordability Fund dedicated $1 million to the program and received an additional $420,000 through an Ira Gribin Workforce Housing Grant from the National Association of Realtors.The Gribin Grant, named for a previous NAR president, was the largest ever that the association's awarded to a group.CAR has 160,000 members and is the largest state affiliate of the National Association of Realtors.