“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home

Call To Action - Voice Your Comments on proposed Legislation to Prohibit Seller Funded Downpayment Assistance

We received an email from one of our Local Lenders today concerning HUD's proposed changes to FHA Loan requirements.

In looking at the above Email Newsletter....

The Section Under Changes At A Glance # D. quoted below caught our eye....

" D. Proposal to Prohibit Seller-Paid Down payment Assistance- On June 16, 2008, the Department re-published its proposed rule governing seller-funded down-payment assistance gifts in connection with FHA-insured mortgage loan transactions. HUD invited comments to the proposal, which must be submitted by August 15, 2008. "

In our local NW Indiana Marketplace - Seller Assisted Down-payment FHA Loans have provided opportunities for First Time Home Buyers and kept otherwise slowing market going!

If you also have had positive experiences with FHA backed Loans as these..

Please take time to voice Your Comments at this link ->

http://www.regulations.gov/fdmspublic/component/main?main=DocumentDetail&o=090000648062870f

PLEASE NOTE:

You cannot add comments directly from this link; you must click on the "Add Comments" link. This will take you to the form where you can comment on the proposed rule 5087.

Please help us spread the word!

-------------------------------------------------------------------------------------------------------------------

If you are considering a move to NW Indiana,

give us a call @219-405-1232 to represent you in your next home purchase!

Jeff & Grace Safrin -"Spouses Selling Houses"TM

F.C.Tucker Advantage Realty

Serving Lake County, Porter County, La Porte County, Starke County, Jasper County and Newton Counties in Northwest Indiana.

Please feel free to click below to read / subscribe to our email newsletter with valuable Relocation Information.

NW INDIANA remains a Great REAL ESTATE MARKET check our past---> SOLD HOMES

Thanks for Visiting our Blog! To read more about local NW Indiana events, sports, and more, click our blog link below...For more Homes For Sale in NW Indiana, Visit our Website

Disclaimer: The opinions expressed by The ActiveRain Networkand it's members and those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided by The Active Rain Community.

Posted Friday Jun 27
( 07/03/08 10:53AM ) — Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana

Update to post - I rec/d this statement by email from a Lender who works with the AmeriDream Program in regards to our Blog post:


"The open comment period for HUD's "re"-proposed rule may be for not. When Congress returns to session next week, the Senate will be working to jam through housing legislation that would have the same effect as HUD's rule. Charitable downpayment assistance funded, in part, by sellers would be eliminated. As you already know, without this valuable source, hundreds of thousands of hard working American families would be robbed of the opportunity to own a home."


Please take time to voice your concern to your local legislature soon.


Sincerely,


Grace

( 08/15/08 06:58PM ) — Danny Thornton

Jeff & Grace, we need more people to get on this "band wagon".

( 08/16/08 11:40AM ) — Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana

We agree Danny - this will impact our future business for sure - I know some do not believe in these programs, but personally, we have not had a single past one of these foreclose.


thanks for stppping by


Sincerely,


Grace

( 08/19/08 09:51PM ) — Steve Dalton - Northwest Indiana

Thanks for popsting, I'm just sick over our own Genesis Foundation in Valparaiso potentially having to layoff numerous people just because Congress and President were foolish and let a great program go away

( 08/20/08 03:46PM ) — Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana

Hey Steve Thanks for stopping by and commenting to keep this alive - many more people will be affected - think of all the Nehemiah people and Genesis and Partner in Charity employees affected nationwide!


Jeff called our local legislator today and asked what they were smoking before passing this bill?


Sept 1st congress resumes and hopefully they will override the passage of the seller assistance part of the bill.


keep spreading the word.


Sincerely,


Grace


 

Post a comment

Temporarily disabled — coming soon!