The new guidelines go into effect Oct. 1, 2008

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The new guidelines go into effect Oct. 1, 2008
Posted by NCLisa of NC on 8/29/08 8:45am	Msg #262528

All the gifting programs such as Nehimiah and Ameridream will no longer be allowed. Borrowers will be required to put at least 3% down for a new purchase.

There are some very good things, some ok things, and some very bad things about the new guidelines. After they start, my business partner will loose her biggest client, as without the gifting programs, his 15 closings amonth will go away.

Messages in this Thread
	FHA loans - MW/VA on 8/29/08 7:20am
	Re: FHA loans - LisaWI on 8/29/08 8:30am
	Re: FHA loans - MW/VA on 8/29/08 8:33am
	Marilyn, sent you a p/m... n/m - Linda_H/FL on 8/29/08 8:35am
	Re: FHA loans-Check your PM. n/m - LisaWI on 8/29/08 8:37am
	Re: FHA loans-Check your PM. - MW/VA on 8/29/08 8:38am
	Re: FHA loans - Leslie_Mo on 8/29/08 8:48am
	The new guidelines go into effect Oct. 1, 2008 - NCLisa on 8/29/08 8:45am
	The new guidelines go into effect Oct. 1, 2008 - NCLisa on 8/29/08 8:45am
	Don't lose heart. - DianeCipa on 8/29/08 10:10am
	Re: Don't lose heart. - NCLisa on 8/29/08 10:29am
	There are no grey areas on a HUD. - DianeCipa on 8/29/08 12:44pm
	Re: There are no grey areas on a HUD. - NCLisa on 8/29/08 1:59pm
	That would suprise my folks in Asheville. - Philip Johnson on 8/29/08 2:36pm
	Re: That would suprise my folks in Asheville. - jba/fl on 8/29/08 3:02pm
	All is a big word - Philip Johnson on 8/29/08 3:13pm
	Re: All is a big word - Yes it is - jba/fl on 8/29/08 3:41pm
	Cutting old growth timber in King county,certainly - Philip Johnson on 8/29/08 3:57pm
	that works - DianeCipa on 8/29/08 3:33pm
	There are almosts always - DianeCipa on 8/29/08 3:36pm
	New FHA rules - MikeC/NY on 8/29/08 9:07pm
	Re: New FHA rules - DianeCipa on 8/30/08 10:14am
	Re: New FHA rules - MikeC/NY on 8/30/08 10:44pm

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