Sounds like a great program for 1st time home buyers Lola!

thanks for your post....... The government is trying to help peole get into a home and it's a great thing when someone could own it

another great post! most people have no idea that there is FREE money available for them to purchase homes -

Yes Monika!  What's very interesting is that this does not seem to preclude Investors with the exception of the $100 Downpayment Assistance aspect of the program.  This is an incredible opportunity.

Yes Donna!  This makes so much more sense!  The banks would do well to take the cue from the government and stream line their process to get homes SOLD rather than sit on enormous amounts of inventory through Foreclosures.

Very True Bill & Barbara Jo!  There are no strings attached here.  It's Simply Smart Money to go out and buy a HUD home and get these houses back into circulation quickly!  They've even thought about the real estate agents...what a novel approach. :)

Lola, I have not heard of this, do you know where I can go read about it ? of should I just contact my loan officers. Wow, sounds good to me, no GREAT to me.

Hi Missy, a good FHA Lender should have this information. The number to call if you need to find an FHA approved lender is:  1-800-CALLFHA.  This IS GREAT news! 

This is only available in Michigan? =(

Well actually Ohio & Michigan, Lisa.  But who knows...it may be coming to Florida next! :)

Lola- That is great information for buyers today who may be sitting on that fence waiting for the feds to drop the rate again next month! Katerina

Lola, I read a short quip to this in the News about 2 weeks ago and have been waiting for the official announcement (and hounding a local mortgage lender for updates) and hadn't seen anything.  It looks like *you* are the official announcer :-)   I'll be back on the phone to the lenders today to get the skinny on anything else that we need to be aware of or do to help our buyers out in this process.  Thanks so much for posting this!

Hi Katerina,  Thanks for your comment.  This is great news and with the anticipation of another price drop in interest rates is a real boost to buyers who understand the unique opportunities that are present right now.

Hi Kris, I received the communique from one of our lenders.  It's probably available on the FHA website as well.  Local Lenders are hopefully promoting this program which represents substantial savings for home buyers.

Lola:  I read about this the other day. From what I understand, it is not available everywhere yet. I'm keeping my eyes open. Thanks for sharing!

Hi Elizabeth, Thanks for your comment.  It seems that there are a number of states which could benefit from this incentive.  I truly hope it spreads and the government shares the good cheer! :)

Good information for consumers Lola and very timely.  By the way, like the new pic:-)

Hi Jason, Thanks! :)

Lola- I will be keeping an eye out for this in my neck of the woods, I hope they roll it out here. I like your new pic too!

Hi Alecia, Thanks!  I don't know why they rolled this out in Michigan and Ohio...but I'm grateful. :)

Lola, this is the first I've heard of this also, thanks for sharing, what a great post and a great opportunity for buyers! 

p.s. I like your new picture too.

Thanks Mike.  It's great that we can take advantage of this in Michigan.

I am curious, is it easy/hard to get the money?  Often when things seem to good to be true they are?

I would think now is a good time to be take advantage of these programs for 2008. as the new fiscal year will be closing soon.