Real estate blog entries tagged with lacefield by Ruth@WRStarkey.com: Pre-apprvls, 1st Time, Move Up Buyers

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Home : Blogs : Ruth Vogt 720-489-0712 (LMB#100023827) FHA VA Conventional Home Loans Colorado : Colorado Lender : Tag "lacefield"

lacefield: Down Payment Assistant Programs Fading Fast! - 10/30/07 06:34 AM

There has been much controversy over HUD granting a 6-month extension to Nehemiah only and to no other Down Payment Assistance Programs. A closed door meeting with the counsel for HUD, (the justice department), and counsel from Ameridream discussing the logic of the 6-month extension for everyone in the industry resulted initially in HUD's refusal to relent. The only option remaining for Ameridream was to file an injunction. Here is a timeline of what has happened:· 10/1/07: HUD issued its Final Rule "Standards for Mortgagor's Investment in Mortgaged Property" eliminating seller-assisted down payment assistance programs.
· 10/1/07: Lawsuit is filed against HUD.
· 10/2/07: HUD clarifies funding dates: "Therefore, in order for … (8 comments)

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Ruth@WRStarkey.com: Pre-apprvls, 1st Time, Move Up Buyers

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