WHEDA Home News - October 2007

Confirmation of Funds Penalty

Since our July 16, 2007 announcement of the confirmation of funds penalty, post closing adjustments have decreased dramatically. We appreciate your attention to making sure that loans have been closed according to your Confirmation letter.

Just a reminder, a fee will be assessed in instances when the Home Plus loan is requested on the Funding Certificate, but the loan documents are not executed at closing.

To avoid a fee being charged, make sure to contact us prior to the loan closing regarding any changes to your confirmation letter.

Rural Initiative & Partnership Neighborhood Down Payment Assistance

The 2007 Home buying season is beginning to wind down, but we still have much work to do to meet our goal of helping a total of 100 families purchase their first Home.

We have sufficient funds available to assist 12 families in the Rural Initiative program and 14 families in the Partnership Neighborhood program.

The remaining forgivable loans are available to families whose income is below 60% of county median income (CMI).

If you have any questions regarding the information in this e-mail, contact Pat Multerer at 1-800-334-6873 or via e-mail at pat.multerer@wheda.com.