2009-04-04 — calculatedriskblog.com
"For years I've complained about FHA related seller-funded Down payment Assistance Programs (DAPs). These programs circumvented the FHA down payment requirements by having the seller funnel the "down payment" to the buyer through a "charity" (for a small fee of course). In 2008, low end buyers with no money for a down payment, flocked to these programs with predictable results ..."
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