GREETINGS!

Today’s show was a "Best of" show and its one of my favorite shows to date; we had a guest on from the local community, Meridee Mathews.  She is a lawyer who specializes in estate planning and traffic tickets.  She was a guest on our show on June 16, 2008 and we would love to have her back on the show to discuss estate planning.  When we did the original show we thought we would have time to discuss estate planning, but ended up discussing traffic court for the whole hour.  I did call into the show briefly to let my listeners know that it was a best of show and that I was in Boise, Idaho.

Since, I didn’t record the show live I was unable to discuss a very troubling issue in the housing industry; the elimination of Seller Funded Down Payment Assistance.  With the passage of the new housing bill signed into law by Pres. Bush.  Which is officially called: H.R. 3221, Housing and Economic Recovery Act of 2008 it eliminated the ability for homebuyer’s to use seller funded downpayment assistance through the purchase and sale agreement.  This will officially be eliminated on October 1, 2008; but due to the timelime of getting loans sold to FHA/HUD; the lenders had instituted a more recent cut-off date.  Most of the lenders I work with have cut-off dates within the next two week to get your loan approved and locked.  The loan needs to close by the end of September in order to still be eligible for the seller-funded downpayment assistance. 

Feel free to leave your comments for questions below; you may also e-mail Questions@FinanceDiva.com

All of best,

Nicole (Finance Diva)