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Do you remember Roxy Music? Brian Ferry has such a warm smooth voice and the lush sounds of the band simply ooze the 1980's Bands like ABC, OMD, and others crafted songs that were rich and complex yet they caught on with the people who bought pop music.
Today it's a overcast day in Tacoma and I am working from home. My iTunes is on shuffle and this song popped up. I immediately went to You Tube and found the video. I found myself watching it and was reminded of my twenties again....Well, back to work looking at houses for my clients. I hope you enjoy the video. It's a great 4 minute break for your day.
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FHA Bridal Registry Accounts
In 1996 FHA came out with Mortgagee Letter 96-56, which announced the "initiative" to use
Bridal Registry Accounts to promote homeownership. It encouraged FHA lenders to advise engaged couples to open up a bank account with the label of "Bridal Registry Account". The couple would then deposit wedding gifts received into the account and FHA would consider them acceptable gift funds as long as the borrowers certified that the funds weren't received from a party with an interest in the transaction.
Here's how it works-3 simple steps:
Couple opens a savings account prior to the wedding
Gifts are deposited
All of the 3.5% down payment can come from these gift funds
No gift letters. No paper trails. Just a simple savings account labeled "bridal registry account" and your borrowers are on their way to having the wedding present of their dreams.
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