We must first note that this news has not been independently confirmed as yet
Our sources indicate that as part of the new stimulus package being kicked through Congress right now, they intend to reinstate down payment assistance for home buyers. They will be required to take a home buying class and pay $250 at closing. Sellers can contribute up to 6% and lender participation in this program will become MANDATORY.
That's right apprently someone finally grew a pair and decided that instead of passing meaningless new programs that no lenders participate in they will require it of them... FINALLY.
Word is that if a lender does not comply they will be reported to a federal agency that will investigate them.
News of this scale will surely make National headlines which is why we want to independently verify this informaiton before making an official announcement. Stay tuned as we hope to be able to get confirmation of this news as well as details of the program for you tomorrow!
Monday, January 19, 2009
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