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MN Mortgage Broker Interprets Pending "Housing Rescue" Legislation As Killing Off The ...

Edina, MN (PRWEB) July 24, 2008 -- Mortgage Broker-Venture Development shares salient points and opinions regarding the government proposed solution to the housing crisis. In an article today in the Washington Post, Chairman Barney Frank of the House Financial Services Committe is quoted as saying that "the House will yield to the Senate on the termination of seller participation in down payment assistance programs." Down Payment Assistance will end as we know it if this is signed into law by the president. Down payment assistance under the current guidlines allows the private sector to provide the solution. The Bill as proposed presents no government alternative or any alternative suggestion on how to keep the program intact. The progression of home sales within the housing market is dependent on first time home buyers... [read full story]                    

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