This is a follow up regarding the temporary suspention of the CALHFA loan programs. Here is a link to the original post:
http://activerain.com/blogsview/845290/Yikes-California-State-Budget-Crisis-Temporarily-Halts-CALHFA-Programs
Per CALHFA...
Only existing reservations made on or before December 19, 2008 will be honored, and no new reservations or reservation extensions will be accepted on these programs. CalHFA will also continue to honor future reservations made on existing forward commitments under CalHFA's Builder-Lock (BLOCK) Program purchased prior to September 23, 2008. No extensions to existing forward commitments will be accepted.
CalHFA will continue to accept reservations for loans under the Community Stabilization Home Loan Program (CSHLP) and SMART Loan Program. However, CHDAP subordinate loans will not be available for use with these programs.
So it looks like if you had your loan registered before December 19th you are safe!
Thanks goodness!
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