Down Payment Assistance with FHA loans Nehemiah & Genesis
July 26, 2010 by
Filed under mortgage insurance
Down Payment Assistance with FHA loans Nehemiah & Genesis banned starting October 1st. HR 3221 housing bill
Mortgage information that is out of this world!
July 26, 2010 by
Filed under mortgage insurance
Down Payment Assistance with FHA loans Nehemiah & Genesis banned starting October 1st. HR 3221 housing bill
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Hi I have a question about first time buyers? Im planning on going with FHA program here in a few months and I already have plans for a house that I want to build I was wondering if I gave FHA my plans will they still give me the loan to build it without choosing there home plans. If anyone knows please respond thank you.
I want to ask… I’m not sure if you know anything in regards to the specific DPA programs that were banned. It’s my understanding that the DPA which were sanction are those initiated by the seller to motivate the buyer. Please correct me if I’m wrong.
There is no downpayment.
This program is fraud against the homebuyer and America’s FHA Insurance Fund.
The fund lost an unanticipated $4.6 Billion due to these false downpayment gifts being promoted by greedy Realtors and lenders.
It’s time for the long arm of the law to mete out some justice.
There is no downpayment.
This program is fraud against the homebuyer and America’s FHA Insurance Fund.
The fund lost an unanticipated $4.6 Billion due to these false downpayment gifts being promoted by greedy Realtors and lenders.
It’s time for the long arm of the law to mete out some justice.
While H.R. 3221 was intended to “rescue” the housing industry, the elimination of the DPA program will have the exact opposite effect of its intended purpose. Not only did it eliminate DPA programs, it also instituted a downpayment requirement increase from 3 percent to 3.5 percent. This combination is a recipe for disaster and will further hurt the already crippled housing market.