Job loss is a great fear for many home owners, and this concern is becoming a reality with the current credit crunch.

Therefore, Jeff Velez, a manager of an Orlando home insurance company is now offering a new product to aid insured homeowners through these uncertain times.

Through his new programme, Jeff expects to close his first mortgage early next month. The agenda itself is called The Homeowner Education and Loan Protection programme.

The plan is run by a Washington D.C based non profit group called Rainy Day Foundation. The scheme offers a safety net to people who lose their jobs within two years of buying a house.

Under the plan, the unemployed worker can receive as much as $1,800 a month for up to six months, a total of $10,800 to cover monthly costs such as taxes, mortgages and home insurance.