How are these programs able to do this, exactly? Americare, Nehemiah, I am sure there are others. Seller pays a 3% donation to the program and the program in turn gives that same 3% back to the seller in the form of a down payment for the purchaser.
It's legal, but how are they doing it, legally? I know there is talk about ending these types of programs and apparently they have been around for some time, but we are starting to see a lot of them with the loans getting so much harder to get.
Just curious if anyone knows a lot about this and would like to educate me on the subject.
Here is the link if you would like to read more about the Nehemiah Program and how it might be able to help your buyers.