LHFA (the agency that handles the bond loans) met this morning and below are the notes from a lender who attended:
According to the meeting I attended for LHFA Bond this morning, the 2008B Bond Issue will be available the last week of November or the 1st week of December. It is anticipated to go very quickly, probably less than 48 hrs.
We must have executed purchase agreements by all parties to send in reservations to LHFA as soon as it is released. So you need go shopping for houses ahead of time!! If you wait for the money to be released to shop, YOU WILL MISS OUT!!
I will be waiting at my computer each and every morning for that email to send in reservations for our clients !!
Also, it is anticipated to be similar to the last issue of 6.625% interest rate and w/4% asstiance. or at least 3% asstiance. What this means to your buyer's is 100% financing! Also, as always the seller's can pay closing cost so your buyer's could get in WITH NO MONEY INVESTED AT ALL!
They are HOPING to have another issue before the end of the year, but, no one knows for sure.
I have blocked out the entire day next Thursday, 20th to be in your office.
As you can see from the email above, the money will not last more than a couple of days. If you or anyone you know is interested in taking advantage of this oppurtuny please call me at (225)767-1999 or email me at shannon@Judyburkett.com
Rachel, the lender, will be in my office all day next Thursday to meet with my buyers and get them qualified. Please let me know if you would like to set up an appointment.