Old Republic Home Protection Creates Innovative Three-Year Home Service Contract for Phoenix Neighborhood Stabilization Program

SAN RAMON, Calif.--(BUSINESS WIRE)-- As authorized under Title III of the Housing and Economic Recovery Act of 2008, the City of Phoenix has established a Neighborhood Stabilization Program (NSP) to help potential home buyers purchase foreclosed homes at a discount, which in turn can help stabilize Phoenix neighborhoods.

As a part of this program, the NSP includes a three-year Home Service Contract on each eligible property, at no cost to the home buyer. Three year Contracts weren't previously offered, so Old Republic Home Protection Company, Inc. quickly designed a program to meet the need. ORHP President Gwen Gallagher said, "We didn't hesitate to create a Home Service Contract that would provide these home buyers with broad coverage and three years of reliable protection. There are risks in offering a Home Service Contract that runs three times longer than our standard Plan, but our goal has always been to be a company that meets the needs of the community we serve. To that end, we welcomed the opportunity to support the Neighborhood Stabilization Program, the local real estate community, and home buyers in stabilizing the local Phoenix neighborhoods."

Dirk Doud, Regional Vice President with ORHP, added, "The city of Phoenix is very insightful for recognizing the value of having a home warranty on the homes that will be purchased through this program. It shows that they care about the home buyers; not just getting them into a home, but enabling them to maintain the affordability of the home. The home warranty can reduce the buyer's out of pocket expenses for unexpected repair or replacement of covered items for three years after they purchase the home. Participating in a program like this gives us even more pride in our products and a sense of accomplishment knowing that we are helping the community grow and thrive."


For details of the three-year Old Republic Home Protection warranty, visit: AZ NSP Qualified Three Year Program.

About Old Republic Home Protection

Their Product

A home warranty is a renewable service contract that repairs/replaces a home's major systems or appliances that fail due to normal use during the term of the contract. A Standard Plan offers coverage on plumbing, heating and electrical systems, as well as major appliances and specialty items such as built-in bathtub whirlpool, and central vacuum systems. Optional coverage is also available, which varies by state. Please see a state-specific Plan for details of coverage.

Their History

Old Republic Home Protection has been a leader in the Home Warranty Industry since 1978, and is currently the third largest home warranty company nationwide, conducting business in 27 states coast to coast. ORHP is a subsidiary of Old Republic International Corporation (ORI), one of the nation's 50 largest publicly held diversified financial services institutions. Headquartered in Chicago, ORI's business is concentrated in commercial insurance lines diversified across four segments: general, mortgage, title and life.

Their Service Reputation

At Old Republic Home Protection, they take pride in providing great customer service experiences, offering fast, friendly and efficient service!

For more information regarding Old Republic Home Protection, visit www.orhp.com.



Old Republic Home Protection (ORHP)

Lorna Mello, 800-282-7131 ext. 1123

VP, Sales and Marketing

LornaM@orhp.com

Source: Old Republic Home Protection