Archives
June 2007
Thursday, June 7, 2007 - Down Payment Assistance Companies Closing as Predicted |
The Neighborhood Gold and Buyers Fund down payment assistance program will cease to provide down payment assistance as of July 3rd 2007.
This announcement was sent out in an email where they claimed they were taking a voluntary step to comply with the IRS Revenue Ruling 2006-27 which ruled that providing seller funded down payment assistance was not a charitable activity.
The IRS is now taking full efforts to revoke the 501c3 status of these non-profits or have them comply by ceasing to provide down payment assistance.
For more information, please see the article I posted in June 2006:
http://allianceacademy.realtownblogs.com/industry/irsondpacompanies/ |
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Tuesday, June 5, 2007 - New CHARM Booklet coming in October |
We wanted to let you know that a new version of the CHARM Booklet will be distributed in October of 2007.
We will post an electronic version of it on our blog site, but if you are meeting your customers face to face, then it would be important for you to provide the paper booklets to the borrower at application.
The booklets can be ordered from many sources including Greatland.com or Datalegal.com.
To download the current version of the booklets that can be emailed to borrowers, please visit this prior post including the CHARM booklet that is current as of December 2006.
Click Here
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