12-14-2012 02:58 PM
i like that settlement which set this conspiracy give away...
why not give it back to taxpayers or shareholders? Nope, they'll give it to those selected borrowers who are in the know and able to spend those particular 2 days with them...
why Government accepted this deal? why has it denied compensation to all others? Ocne answer - criminal crony capitalism we have here.
12-14-2012 04:19 PM
There is a catch, if they are new buyer (2012 buyer) and the property is valued less than loan (like short sale), they will be given 20k free. Those who gets it needs to maintain their mortgage, not to file short sale, for next five years. Otherwise, they won't get it free.
This condition was not so clear, but it is mainly to stop people filing short sale in future.
This was told in ABC news.
12-14-2012 05:08 PM
Well, this is a down payment assistance. Strict guidelines for whoever applies, good credit history and they are going to use it if they buy a home. That is if they find one, even though I noticed the cities these people are coming from are not having the bidding wars we have over here.