house of representatives: An Open Letter to Congress from a Veteran Realtor Regarding HR6694 & Reducing Mortgage Rates NOW
- 10/24/08 05:18 AM
An Open Letter to Congress from a Veteran Realtor Regarding HR 6694 and a new Stimulus Package Please vote to defeat HR6694. Reinstating this pseudo charity is the sort of reckless lending that lead us into our current financial melt down. The way this "charity" works is that a Seller (most frequently a developer with multiple properties to sell) donates a ‘gift" of approximately 4% of the property's sale price to a designated charity. (Nehemiah and AmeriDream are two such organizations). In exchange, the charity donates the 3% downpayment required for a potential homeowner to obtain FHA financing. (Soon to be … (0 comments)
An Open Letter to Congress from a Veteran Realtor
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