Hi Michelle....  not trying to sound rude here, but just because GMAC sent out e-mails doesn't mean that this has happened yet. Maybe the e-mail is to curb the way everyone things, in anticipation of this happening.

Yes, the foreclosure rate is a lot higher on these types of loans. And underwriters have been instructed by hud to look at these types of loans a little harder. Possibly that you would need to be a little more solid as a borrower.

Dale.... what you have heard is this....House introduces FHA reform bill    This still has to be approved in Congress, which to my knowledge and research, this has not taken place yet. What you have is someone that got this information from someone else...passed it to someone else, and now it has changed a little and is incorrect.   So...  they haven't done away with it yet, it needs to be approved by Congress....

Rich.... when they mention the down payment assistance programs, this goes for everything...even Nehemiah. They are still out there, at least as 14 days ago when I called Nehemiah myself.... 

Unless someone else has concrete information and not hear se.... I would love to know.  And think about.... if HUD is thinking about stopping the non-profit assistance programs, what would make you think that they would bend over and allow 100% financing?  It's all the same, no money from the borrower, no matter how you look at it.  This part is just my opinion.... but I would it makes sense...