If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The Los Angeles Times covered the re-emergence of the controversial seller-financed downpayment assistance legislation that allows homebuyers to buy a home without any money down. And that is the least of the problems associated with this piece of legislation [...]
Our Friends over at the Mortgage Lender Implode-O-Meter have issed a statement regarding the fishy-smelling goings-on regarding the uncertain future of FHA seller-funded downpayment assistance. Here’s a bit of their press release for a synopsis on the problem:
The SFDPA practice was completely banned by the July 2008 housing bill, [...]
I wrote a year ago about the site, Mortgage Lender Implode-O-Meter, being sued by a mortgage company for damages allegedly tied to the company’s listing on the site’s imploded lender list. The claims were fanciful, with the lender claiming that their bank accounts had been drained by institutional warehouse lenders and other sorts of malarky [...]
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