Downpayment assistance program
... gets a favorable ruling which will help first time homebuyers.
"AmeriDream is pleased to announce that a second federal judge has ruled that the Department of Housing and Urban Development violated federal law in adopting a regulation prohibiting seller-funded downpayment assistance. ... 'Low to moderate income homebuyers who have been struggling to achieve the American dream of homeownership are the true beneficiaries of this decision,' said Ann Ashburn."
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Seller downpayment assistance programs have been very helpful to first time home buyers and since many potential home buyers who relocate to Charleston don't necessarily have enough savings to make a down payment on a Charleston home for sale, this is good news especially in light of stricter underwriting standards for obtaining a mortgage.