3: Separate the Fact From the Fiction - The Real Story on FHA Seller Concession Limitations - 03/27/10 01:44 PM
                                                                     Much has been written and said since January about HUD reducing the seller concession limit on FHA loans from 6% down to 3% of the sales price.  Unfortunately, a lot of it is false information.  On January 20, 2010, HUD announced a series of policy changes.  Some approved, some not.  The seller concession limit was one of the proposed changes as indicated below:
 
Reduce allowable seller concessions from 6% to 3%
The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions. This … (0 comments)

 

Find GA real estate agents and Atlanta real estate on ActiveRain.