HUD / FHA did ban the 3% down payment gifts from organizations like
Nehemiah, AmeriDream, and Partners in Charity late last year. A federal judge granted
a temporary injunction blocking the move and this spring ruled that HUD / FHA "failed
to provide a rational basis in support" of the ban.
Well the new and improved ban version is back, and there is now a public comment period open on it.
Story in the Wall Street Journal
Just a heads up for those that may have clients interested in using one of these programs for their down payment.
If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me firstname.lastname@example.org or call me at 702-354-8988. I look forward to hearing from you!