The Department of Housing and Urban Development (HUD) reissued a proposed change on February 23, 2012, that would reduce the maximum allowable amount of seller concessions on an FHA loan from 6% of the lesser of the sales price or appraised value to 3% or $6,000, whichever is greater. This reduction comes in response to the significant public comment on its July proposal. A public comment period on this proposal will be open until March 26, 2012. To read more about the proposed change, click here.
