On January 19, Scott Syphax of the Nehemiah Foundation announced that Congressman Al Green has introduced HR 600, a bill to restore seller assisted down payment programs to the FHA loan universe. Here is a link to the press release. I haven’t seen the final bill. It seems to be a “lite” version of H.R .6694 introduced in the last Congress. It reintroduces tiered mortgage insurance premiums, often referred to as ‘risk based mortgage insurance premiums” although this bill does not seem to refer to them that way.

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There’s a huge debate going on right now about seller assisted down payment programs on FHA insured loans. Most of the program’s detractors are those who are on the outside looking in. The objections of those opposed to seller assisted down payment programs are not completely without merit. There have been some problems in the implementation of the program which have led to a higher than necessary foreclosure rate among those borrowers using the program. And yet foreclosure rates

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