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Tuh da tuh dum te dum! Here comes the calvary. The question is are they coming to save us or kill us? That answer will come in the next few days as details of the legislation are published and explained. I researched the legislation yesterday but couldn't find the fine details about how they are going to implement the down payment assistance limitations. It is unclear to me at this point whether they are targeting builders, investors, individuals, or all three. I don't have stats but I can assure you that there has been a huge percentage of seller assisted down payment deals in the past. If these go away the entire economy will suffer beyond anything the other items in the legislation can justify. As details become available we will have a better idea of how this will affect our housing market and the economy as a whole. My advice to anyone who plans to buy a home in the next 3 years is to do it now!

March 2008