Like Chucky, FHA Non Profit Down Payment "Gift "Programs Refuse to Die.

WSJ story HERE details last minute efforts to bring back FHA non profit down payment "gift" programs now scheduled to die on October 1st. Apparent effort is to keep programs in exchange for FHA being able to use some form of risk based premiums, now scheduled for one year moratorium starting Oct. 1.

A House Financial Services Sub Committee hearing on FHA non profit gift program bill is now apparently scheduled for next Tuesday; bill number for bill that would bring back non profit down payment "gift" programs is H.R. 6694 and Thomas website for the bill is HERE.

My priot post with state details on higher claims rates for these non profit down payment "gift" programs is HERE.