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Author: cdolphy Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127777  
Subject: Re: "Gifts" to buyers with no down pay Date: 10/10/2001 12:57 PM
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* The seller must agree to participate in Futures Home Assistance Program

Seller agrees to pay Future Home Assistance program a service fee of $500 plus an amount equal to the gift if the sales price is under $125,000.00 or $750 plus an amount equal to the gift if the sale price is over $125,000. of the property described in the attached Purchase Agreement. Said fee is to be paid at closing. This fee is earned by FHAP for the assistance rendered to the Seller in identifying, prequalifying and educating the general public about affordable housing opportunities."


Although I've heard of financing more than the purchase price so you can pay closing cost. This sounds pretty lame. Paying an extra fee so the buyer doesn't have to have down payment? Plus signing this nonsense about them earning the fee of identifying and prequalifying the buyer?
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