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The HUD Inspector General is out to kill more DAP’s.  We just went over the FHA Sapphire loan a couple of days ago and sure enough, it’s one of the programs offered by US Bank that’s on their radar.  The question is, how does killing these loans help the low to moderate income families that FHA is supposed to serve?



additional comments on
"HUD IG Out to Kill More DAPs"

  1. Rob C says:

    You guys nailed it once again. Thanks for getting the message out about these lying, cynical SOBs in DC who haven’t met a fact that they can’t twist to suit their political agendas.

  2. Pat Anderson says:

    This is a bogus program – the lender is giving money for the down payment. Why is this a good thing? How about a program where the Realtors give money for the down payment, does that work for you?

  3. Prefer to be nameless says:

    Sorry guys, can’t agree today. VA has the lowest default rate because they serve in the military and then sign over their eligibility/service which is more powerful than money. Now on to DAPS, the whole point of home ownership is to build wealth so giving them 1% higher on the rate, doesn’t help them accommodate a situation if they are living paycheck to paycheck and can’t save a measly 3-3.5% down. If you barely have a job, tons of kids, new to this country-you need to understand the concept of saving. The “machine” has brainwashed everyone to finance everything and make the top rich. I actually think the top of the house is being less greedy here and saying the obvious which is stop incentivizing folks to be in debt. You can easily do uber for 2 months or cut back to save a tiny down payment. If you can’t do that, then you shouldn’t be a homeowner. Stop creating bogus programs and make it cut and dry-you need a down payment to get a house. Stop finding loopholes

  4. B-Rad says:

    Great video. However I do not see interest rates increasing to 6% anytime in the future, at least until either A) wages go up or B) we move to 40-50 year loans as the standard. Going from 4% to 6% interest rates while maintaining a 30 year fixed market reduces the purchasing power of home buyers by roughly 17%. This would be reflected in resale prices across the market and since negative equity is one of the largest drivers of foreclosures, it would create another foreclosure crisis.

  5. Tobias says:

    More manufactured outrage. DPA loans going back 25 years have always had a much higher rate of default. While 3.5% down does not sound like much, it is the borrower’s discipline to save up that amount which has the highest correlation with low risk. I too find it amusing at those complaining about the government getting involved in, well, government loans. Reminds me of the old lady screaming at her congressman to get the government out of my Medicare. DPA is DPA, regardless of how much lipstick you smear on it.

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