Now is the time to buy a home in Michigan - FHA reduction in seller concession effective early summer 2010

The new FHA reduction in seller concessions from 6% allowable to 3% allowable is scheduled to take effect in early summer 2010.

It will be posted to the Federal Registry this month, and after a period of comments will have a set effective date.

To read all of the FHA Policy Changes announced January 20, 2010, go to:

http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-016