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Old 02-15-2011, 12:02 PM
 
398 posts, read 837,991 times
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Why You Should Buy that Home Now - SmartMoney.com

The article mentions changes to FHA guidelines, increased downpayments, increased PMI, and decrease in debt/income ratio. Considering home values on LI, many new homebuyers are using FHA loans. If new guidelines are put into place, the impact on housing market on Long Island could take another hit.

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Old 02-15-2011, 12:33 PM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,303,161 times
Reputation: 7340
If it becomes even harder to buy a home for first-time buyers on LI, less homes will be sold unless prices are reduced.
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