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Yesterday I reported on the summary of the HB, which included: Seller-funded down payment assistance programs – codifies existing FHA proposal to prohibit the use of down payment assistance programs funded by those who have a financial interest in the sale; does not prohibit other assistance programs provided by nonprofits funded by other sources, churches, employers, [...] The National Association of REALTORS® has provided us the a summary of this big Housing and Economic Recovery Act, which I am sharing with you here. I will be digging into each of this elements over time and commenting on them as I learn the pros and cons of each. H.R. 3221, the “Housing and Economic Recovery [...] |
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