Former Federal Reserve chairman Alan Greenspan offered a bit of optimism about the housing market in an interview this week with David Wessel of the Wall Street Journal. Mr. Greenspan said that he expects housing prices to begin stabilizing in the first half of 2009, although they could continue to drift lower for quite some [...]
Archive | August, 2008
Doing away with down payment assistance
To bring you up to speed, the Department of Housing and Urban Development (HUD) hates seller-funded down payment assistance programs. These programs basically allow the seller to pay for part or all of the required 3% down payment on FHA loans, and in the current lending environment it represents the last remaining way to get [...]
2008 Housing and Economic Recovery Act: What you need to know
So the bill was passed by the House and the Senate, and signed into law by President Bush. A 786 pages long, let’s pull out the parts that really mean the most to us. First, the tax credit to first-time home buyers (note that first-time home buyers are those who have not had an ownership [...]
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