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We just met with our friends at Atlantic Coast Mortgage this morning and have a great first time home buyer program to share. The Virginia Housing Development Authority (VHDA) is once again offering a pool of money for down payment assistance. Available on a first come first served basis, last year’s fund had approximately $5,000,000.…
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[youtube=http://www.youtube.com/watch?v=g2CLQABK-S8] Seller funded down payment assistance programs are set to be eliminated by this fall, unless Congress approves the FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694). The Department of Housing and Urban Development apparently would rather eliminate these programs entirely than regulate them. The video above is from Ameridream, and…
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A few days ago I wrote that Fairfax County was considering buying foreclosed homes as part of a Silver Lining Program to expand affordable housing for county employees. My point was that Loudoun County, with a high percentage of foreclosed properties, should look at what Fairfax is doing with an eye on implementing something similar…
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I was reading an article in the Washington Post this morning; apparently Fairfax County’s Board of Supervisors is considering a “Silver Lining” program, in which the county would spend up to $6.4 million to help convert foreclosed homes into affordable housing for teachers, firefighters, and police officers who otherwise would not be able to qualify…