Greg Fisk's Blog - Archives September, 2008

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Home : Blogs : Greg Fisk : Greg Fisk's Blog : Archives September, 2008

Bowie Cape Cod For Sale - 09/08/08 08:55 AM

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Is this the end of Down Payment Assistance Programs? - 09/05/08 09:13 PM

The new housing stimulus is set to take effect Oct. 1, and its impact will be felt by both homebuyers and builders. Under the provision, FHA can no longer insure mortgages in which the down payment comes directly from the seller or other interested party. According to the National Association of Realtors (NAR), down payment assistance from family members, government programs or charities that are not seller funded is still permitted. Seller-funded down payment-assisted FHA loans have a high default rate. NAR reported that the default rate on these types of loans was more than 28 percent last year, about three … (0 comments)

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Greg Fisk

Edgewater, MD

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