Smoke and Mirrors! Based on the title, they want you to focus your attention on the extension of the tax credit deadline.
However, the key point that we should all be concerned about is the raising of the annual administrative fees from .55% to 1.5% in order to build up cash reserves.
This will lower the amount that buyers qualify for and lead to declines in home values.
Instead of asking for more fees, FHA should develop guidelines that reduce default risk and run their organization more efficiently.
Erica Ramus says:
When will it all end? This is like a zombie — you cannot kill it.
And when homeowners drag their feet in September, can we have an extension to December 31 please?
Give me a break.
June 11, 2010 — 12:06 pm
Tim Shepard says:
Smoke and Mirrors! Based on the title, they want you to focus your attention on the extension of the tax credit deadline.
However, the key point that we should all be concerned about is the raising of the annual administrative fees from .55% to 1.5% in order to build up cash reserves.
This will lower the amount that buyers qualify for and lead to declines in home values.
Instead of asking for more fees, FHA should develop guidelines that reduce default risk and run their organization more efficiently.
June 11, 2010 — 2:29 pm
Alex Cortez says:
Just when you thought it couldn’t get worse, it just couldn’t possible go any lower… Well, at least the NAR is finding new ways to reach even lower…
June 11, 2010 — 4:11 pm
Robert Worthington says:
This is super sickening. The redistribution of wealth goes on and on and on.
June 12, 2010 — 6:53 pm