American Family Funds, Inc. continues to fight to reverse the controversial rule that will eliminate the use of all Seller Contributed Down Payment Gifts.
We will update you on our progress.
Please note the information highlighted below in yellow-
HUD has clarified the Effective Date of the rule-
ALL CONTRACTS, INCLUDING ADDENDUMS MUST BE FULLY EXECUTED BY OCTOBER 30, 2007 for American Family Funds, Inc. TO FUND THE GIFT.
AFF WILL FUND YOUR DEALS INTO THE FUTURE AS LONG AS THE CONTRACT WAS SIGNED BEFORE OCTOBER 30TH, 2007.
ADDITIONALLY, WE BELIEVE THAT WE WILL SUCCEED IN OUR ARGUMENT WITH HUD THAT American Family Funds, Inc. MEETS THE SAME REQUIRMENTS AS NEHEMIAH AND THUS OUR DEADLINE SHOULD BE EXTENDED TO APRIL OF NEXT YEAR. WE WILL KEEP YOU UPDATE AS SOON AS POSSIBLE.
UNTIL THEN, SEND US ALL YOUR DEALS AND GET NEW ONES SIGNED BY OCTOBER 30, 2007.
Thank you for your business.
PS: The way the Rule is written, we feel that an opportunity may exist for a continuance of business. Stay tune for that announcement.