Now here is some great news…

BREAKING NEWS: FHA rescinds $1,000 credit dispute rule…

(Click on the link below to be taken to the full report)

The Federal Housing Administration rescinded a rule that would have denied financing to potential homebuyers with ongoing credit disputes of more than $1,000, according to an alert sent to lenders.

The FHA quietly drafted the rule in March to mitigate risks to its emergency fund. The rule went into effect April 1. Borrowers would have to either pay off the outstanding balance on collections accounts or document an arrangement to pay before the mortgage was approved.

Folks, this didn't "JUST HAPPEN by accident". Being a Texas Association of Realtor's Director and a supporter of the Texas Realtor's political Action Group, I have joined many more Realtor's and political activists who have been diligently working at getting this rescinded since it's inception! Hopefully we can bring about a complete recension of this. The fight for private property rights and reduced Government control is an ongoing battle and I am privileged to be a part of it!

Steve Young
RE/MAX Associates
(817) 276-5149

Senior Real Estate Specialist

Follow me on Twitter! 

Steve Young's Blog

If you do not want to receive emails from Steve Young, please reply with “remove” in the subject line, and I will remove you from my mailing list.