chfa: Resurrection of Down Payment Assistance?
- 09/18/08 05:12 AM
I wrote about the demise of Seller-funded down payment assistance programs just a few weeks ago-as of October 1st they will no longer be allowed.Well, things may turn around sooner than we originally thought.There is currently a bill in the House, HR6694, which, if voted into law, will resurrect the use of these programs with some minor changes.HR6694 has a very important support system in the National Association of Realtors. NAR's goal with the new bill is to "mend, not end" this type of assistance. The new bill will tie Seller-funded down payment assistance to buyer's credit scores.Essentially, buyers with credit … (0 comments)
I wrote about the demise of Seller-funded down payment assistance programs just a few weeks ago-as of October 1st they will no longer be allowed.Well, things may turn around sooner than we originally thought.There is currently a bill in the House, HR6694, which, if voted into law, will resurrect the use of these programs with some minor changes.HR6694 has a very important support system in the National Association of Realtors. NAR's goal with the new bill is to "mend, not end" this type of assistance. The new bill will tie Seller-funded down payment assistance to buyer's credit scores.Essentially, buyers with credit … (0 comments)
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