Congress weighs reprieve for seller-funded gifts 
Frank says HUD supports compromise bill
By Matt Carter, Tuesday, September 9, 2008.
STOCKTON, Calif. -- A last-ditch effort to head off an Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed loans is picking up steam as a compromise bill, that would mend rather than end the practice, gains momentum.
HR 6694, which would allow home builders to continue funneling down-payment assistance through nonprofit groups to home buyers using FHA loans, is certain to pass ...
more...
Premium Member account.
Premium Members have full access to all news archives & premium content.
Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
