Noblesville Real Estate News
Word on the street is that there is a good possibility that congress might grant a reprieve on the elimination of seller paid down payment assistance for FHA loans. In theory, the DPA (down payment assistance) program ends October 1st but in reality most lenders have already stopped accepting deals with DPA on them.
I have mixed emotions on this one; on one hand, DPA opens up a whole new pool of buyers to purchase homes that might not have been able to do without this program and that is always good for real estate. On the other hand, part of me thinks that if you cannot save up 3% to purchase a home perhaps you shouldn’t be buying a home right now anyway. I don’t know, I am torn. I have seen this program utilized for some very good, honest and deserving people but I have also seen it abused and worry about future foreclosures plaguing FHA loans and taxpayers.
What are your thoughts? Extend it or let it die?
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Date: Thursday, September, 11th 2008 @ 11:59:49 AMViews: 1121
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