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FHA disallows sellers giving down payment to buyers

Date: Aug. 25, 2008
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It has come to my attention that the FHA will not allow sellers to give buyers a down payment after Sept 30th, 2008. There are some folks trying to get this changed. I am not sure how I feel about this. On one hand I firmly believe buyers should save some of their own money to buy a house. On the other hand if a seller needs to sell their home and are willing to give up $3000-$8000, well that should be their perrogative.

That is all I have to say about that for now

Sue

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RE: FHA disallows sellers giving down payment to buyers

Posted by: Robin Gottuso
Date: Aug. 25, 2008
I just cut and pasted this into an e-mail to my lender for his feedback. This is the first I have heard of this and can't disagree with your comments.

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