Free Republic

FIRST ON FOX: California Gov. Gavin Newsom vetoed a controversial bill that would have given hundreds of thousands of dollars in housing loans to illegal immigrants. Last month, the California legislature advanced AB 1840, known as the "California Dream for All" loan program, which would have given illegal immigrants up to $150,000 in first-time homeownership loans — a bill that if signed into law would have given first-time homebuyers up to 20% of a home's value or up to $150,000 as down payment assistance. "This bill seeks to prohibit the disqualification of applicants from one of California Housing Finance Agency's...

Shirley Sherrod, the former Agriculture Department’s director of rural development in Georgia, gives some great tips in her 40 minute speech at NAACP. First time home buyers probably would not think to look for a loan at the Department of Agriculture. Apparently there are some great deals there. So here is more professional advice from Shirley Sherrod and the US government: We have more money for single family housing – the red loans – and that’s loans from the agency - that we’ve ever had in the history of the program. But we are having problems having this money...

Chicago South Side and south suburban community groups will urge their congressmen to tighten the reins on marketing assumable federal housing loans. The Calumet Community Religious Conference , a coalition of 60 Catholic and Protestant churches, has drafted a letter for community leaders and residents to send to congressmen asking them to take action. Community leaders and real estate agents say that some of the blame lies with the Federal Housing Administration and Veterans Administration, agencies that maintain little control over their loans. The outcry grew out of a recent skirmish between south suburban officials and a real estate agency....