ALERT!: Homebuying Assistance Gift Programs to be Disallowed by FHA

This news broke over the weekend.  I posted Saturday night about it, but I think something this big deserves a Monday morning read...

FHA Will Decide Today (Monday, Oct 1) if Homebuyer Assistance Programs Like Nehemiah Can Exist

Take a quick moment and read the story here.

... as another commenter said in the previous post, this may not effect many unit sales, but I think it will add to the "yikes!" factor many homebuyers experience.

 

4 Comments on ALERT!: Homebuying Assistance Gift Programs to be Disallowed by FHA

Christina, interesting news.  I just had an FHA sale close last month which used the Nehemiah program.  The whole transaction was a big hassle, but it did finally close.

10/01/2007 09:44 AM by Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance)

Yea, I hear you!!

Good for you and your people that it did close, though!

Best,

Christina

10/01/2007 09:47 AM by Christina Botteri (Clientor, Inc.)

Great.  Just great.  (I am being sarcastic)  First Michigan is hit with the news that our lovely government has caved and hit us with tax increases instead of balancing the budget, now a source of home ownership to first time buyers used frequently in this state is gone.

It's hard to be cheerful and optimistic today.

10/01/2007 09:56 AM by Kris Wales-A partner for your real estate needs in Macomb County MI (RE/MAX Advantage 1, Inc.)

Christina just get them closed before the end of the month .

10/01/2007 10:05 AM by James Gordon REALTOR® PBD SRS (Sibcy Cline Realtors®)

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Real Estate Agent: Christina Botteri (Clientor, Inc.)
Christina Botteri
Roseville, CA
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Clientor, Inc.

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