2012-03-17freerateupdate.com

``The revised proposal would reduce this to 3 percent of the home's value or $6,000, whichever amount is greater. According to the proposal, seller concessions at 6 percent of the sales price of the property, which are in currently in place, increases the risk of default. The proposed 3 percent is not an unusual amount since it is the same amount that is currently allowed with conforming mortgages. Although this may sound terrible to many home buyers and real estate agents, the 3 percent maximum will actually only occur on mortgages $200,000 and above. ''



Comments:

BIGTXLENDER at 13:11 2012-03-17 said:
IMHO this is a great idea!!! will keep greedy sellers from inflating the values ,,

as well ALL KNOW, sellers to not give anything up, the 6% is added to the net proceeds they want, Permalink

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