Just like the auto companies who are promising to help buyers with payments if they lose their jobs, Nova Home Loans this week will unveil a mortgage protection plan that will cover mortgage payments for up to six months if the mortgagee can’t pay due to a job loss.

The program, called SafeHouse Mortgage Protection Plan, is believed to be the first offered in Tucson by a mortgage company and applies to new mortgage applications as well as refinancings.

Basically, the program offers to make mortgage payments of up to $1,800 per month for up to six months if a consumer involuntarily loses their job during the two years after closing, or within one year on refinancings.

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That’s usually the time where there is the most risk of default, according to Ray Desmond, Nova’s founder.

The plan is provided in conjunction with the RainyDay Foundation, a national organization based in Washington, D.C., that promotes responsible home ownership.

The SafeHouse Mortgage Protection Plan is essentially insurance coverage that costs anywhere from $395 on refinancings up to $595 on home purchases with a single buyer.

Additionally, during the first six months of the mortgage, a counselor will contact the homeowner each month to help them plan and budget for the mortgage, according to Bart Long, an agency manager at Nova Home Loans. The idea, he said, is, “to help them avoid problems in the future, not just help when there is a crisis.”

“This is an ideal time to buy or refinance,” said Jon Volpe, CEO of Nova Home Loans. “We do not want to see one more person miss out on low interest rates because they are concerned about the stability of their employment.”