{"id":195178,"date":"2008-07-24T23:09:00","date_gmt":"2008-07-25T04:09:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/24\/dap-to-be-eliminated-in-housing-bill\/"},"modified":"2008-07-24T23:09:00","modified_gmt":"2008-07-25T04:09:00","slug":"dap-to-be-eliminated-in-housing-bill","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/24\/dap-to-be-eliminated-in-housing-bill\/","title":{"rendered":"DAP to be Eliminated in Housing Bill"},"content":{"rendered":"<div style=\"text-align: center;\"><span style=\"font-variant: small-caps; font-weight: bold;font-size:130%;\" >About f$@#ing Time<\/span><\/div>\n<p>I&#8217;ve mentioned the <span style=\"font-weight: bold;\">D<\/span>ownpayment <span style=\"font-weight: bold;\">A<\/span>ssistance <span style=\"font-weight: bold;\">P<\/span>rogram before, and it&#8217;s <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2008\/07\/21\/AR2008072102456.html\">one of the worst scams in real estate<\/a>, and the housing rescue bill shuts it down.<\/p>\n<p>The FHA requires a down payment of 3%, and &#8220;non-profit&#8221; agencies will front the money to the buyer.  That money, plus what is typically a $500 fee, comes from the seller, who raises the price of his house to cover it, effectively meaning that the buyer pays an additional $500 (plus taxes and commission) to create a phony downpayment.<\/p>\n<p>Huzzah!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>About f$@#ing Time I&#8217;ve mentioned the Downpayment Assistance Program before, and it&#8217;s one of the worst scams in real estate, and the housing rescue bill shuts it down. The FHA requires a down payment of 3%, and &#8220;non-profit&#8221; agencies will front the money to the buyer. That money, plus what is typically a $500 fee, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,970,1020,1088],"tags":[],"class_list":["post-195178","post","type-post","status-publish","format-standard","hentry","category-congress","category-corruption","category-legislation","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195178"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=195178"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195178\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}