Great1,
Common sense is a thing of the past.
You and I gonna have to adapt to this
swing of the pendelum.  I don’t like what
is going on.  But the next election is
a year plus away.

Why is there any program giving away any money? If you can’t earn the money to buy a house then you should have to live where ever you can find. If the government would quit giving hand outs then maybe the low lifes would go to work.

This is great news; just get me in the house.
And in 30 days, I will worry about if I can
make the first payment.
My ship has come in!!!!

I’m not sure that this program is a complete give-a-way though.  Was just reading about it, and there’s two programs. One is a down payment assistance grant that’s for 1st time homebuyers.  They can get up to $10,000 for a down payment and closing costs. The homebuyer though has to pay a non-refundable payment of $500.00 towards the purchase, and has to occupy the house for a min. of 5 years or be made to repay the entire grant.
Program 2 is called Newly constructed homes for purchase, & gives an addtional mortgage assistance of up to $30,000 for qualified buyers.
This one doesn’t require you to be a first time homebuyer and you can also take advantage of the down payment assistance program if qualified.
Also, you have to attend the training and counseling program covering the credit requirements, the loan process and budgeting.  You have to attend the free classes and receive a certificate of completion before qualifying for any of these programs. Also, they say that the house has to be the primary residence and that the mortgage assistance is provided as a “deferred loan”.

AMEN Minimay!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

My point was the fact that the government is much quicker to give this kind of help to someone that is doing absolutely nothing, and in most cases is well capable of doing something, before looking into families that, yes may have a steady income, but will never be able to save back because each month they are barely able to make ends meet. If there is someone out there that actually can not physically work and has tried multiple things to try and get some kind of income coming in, by all means help those people. However, people that choose to be on these programs is usually what is happening. They know exactly how much income they should let come in in order to get help from these programs. They know if they make any over that said amount that they will not qualify. I would love to be able to go out and work. However, the amount that I would bring in would maybe cover a portion of the child care that I would have to pay for in order to work. Which is pointless. People make milking the government a career. They know how to work it to were they have no rent, no power bill, no water bill, no phone bill, and even get their food paid for every month. On top of that get a disability check in the mail each month. I am lucky to be able to have everything I need. May not be everything I want, but having material things is not what life is about. All I hope is that people that truly deserve the help are getting it, not the ones that have set it up to were they get the help.

Amen to the CEOs and shareholders being a leading culprit in the melt down,but a lot of these defaulted loans should have never been made to begin with and I would imagine most knew they were over their heads when taking out the loans,but they had nothing to lose by doing so.Extraordinary programs such as this one($40000 help)should require extraordinary proof that the person can complete the contract under difficult circumstances.I believe that is one of the major reasons we are presently in this financial mess,people getting unqualified loans and the greedy big businesses getting unqualified big profits and bonuses.Forget all about these “targeted programs” and help those qualified and willing to help them selves.You should have to show financial responsibility before being able to access these kind of programs.

You people are living in a fantasy if you think that the meltdown started with forking over money to low or middle income. They accounted for only 30% of the loans. Why not cite a lack of standards, allowing an industry to police itself and GREED for the burst housing bubble?

Low and middle income potential homebuyers are not the culprits, the CEO’s and shareholders who wanted MORE AND MORE money are the criminals.

Flash back.
Giving loans to people that never learned how
to pay bills or budget.
I had to learn the hard way (my wife too)
Saving that 20% down takes discipline.
That is a learning experience in its self.
No money down does not work and got us in
trouble the last few years.

minimay don’t give up. One day we will have a Pres and Gov’t that want be giving it all away to those who just milk the system and i hope i’m around to see them have to work for something.  It is ridiculas that there is not some help for the lower to middle class that work hard.