Treatment of Seller-Funded Downpayment Assistance in FHA-Insured Home Loans.

Format:

Book

Government document

Author/Creator:

Library of Congress. Congressional Research Service.

Language:

English

Subjects (All):

Housing--Law and legislation.

Housing.

Mortgages.

Nonprofit organizations.

Physical Description:

1 online resource (6 pages, digital, PDF file)

Place of Publication:

[Place of publication not identified] : [publisher not identified], 2009.

System Details:

text file

Summary:

Explains treatment of seller-funded downpayment assistance in FHA-insured home loans, under the National Housing Act, covering borrower up-front costs and how these are paid, downpayment assistance programs sponsored by nonprofits, current issues with downpayment assistance, and proposed changes to current law. Discusses P.L. 110-289, the Housing and Economic Recovery Act of 2008, which increases required borrower contribution, and restricts seller or any third party that is being reimbursed by the seller from providing assistance counting towards the required contribution.

Notes:

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Dec. 2010). Reuse except for individual research requires license from ProQuest, LLC.

CRS Report.

Other Format:

Microfiche version: Library of Congress. Congressional Research Service. Treatment of Seller-Funded Downpayment Assistance in FHA-Insured Home Loans

Access Restriction:

Restricted for use by site license.