2008-11-04 — ml-implode.com
"FHA rules do not allow property sellers to give buyers the funds for their down payment. The reasons why FHA prohibits the borrower from obtaining funds for the down payment from the seller are numerous. However, common sense dictates the most obvious reason is that it is simply a scheme to enable 100% financing. Why is it then that the House of Representatives wants to override FHA and recent legislation to support down payment fraud and undermine reform? "
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