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Feds Threaten Homeownership

By
Real Estate Agent with NewEdge Realty

One of our country's most important privately-funded, non-profit housing programs is in jeopardy.

The U.S. Department of Housing and Urban Development (HUD) have proposed a rule that will end privately funded down payment assistance programs.

In this fragile housing market, such a rule would have a devastating impact on families and communities, as well as all the real estate and lending professionals whose livelihoods depend on the sale and purchase of homes.

You MUST speak up now! HUD's rule can be stopped if you act now. Tell HUD to withdraw the rule.

 
Scott Patterson, ACI
Trace Inspections, LLC - Spring Hill, TN
Home Inspector, Middle TN
It would be nice to have more details on this "Rule" other than the pitch provided on the link.  Frankly I have seen more folks getting into trouble with homes that they should not have been able to purchase if it was not for the government provided down payment. 
Jun 20, 2007 03:45 AM
Bob Elliott
Elliott Home Inspection - Chicago, IL
Chicago Property Inspection

There goes my great business idea for retirment.

I was convinced foreclosure Real Estate was my ride to fortunes on the backs of others mis-fortune,and fit right in with my sadistic lifestyle.

Jun 20, 2007 04:06 AM
Arleen Lammons
NewEdge Realty - Edgewater, FL

Scott

I posted additional information concerning the Rule HUD's rule FR5087-P-01....

I've seen folks getting into trouble with their homes that lost their jobs, illness, divorce, death, rich to poor, etc..etc...

FHA helped me purchase a home 13 years ago.  Single mother of two.  Guess what, I still live in the same home and many others whom acquired their homes through FHA and NON-PROFIT (not government) programs.

 

Jun 20, 2007 04:53 PM