Your questions about qualified intermediary

Carol asks…Does my friend have legal recourse against a mortgage company/Government Sponsored Agency?A few years back, a friend of mine applied for the first home club (a government program that allows first time homebuyers to open a savings account, save for a specified period of time, take homebuyers education, and then receive a grant from the FHLBNY for $7500 towards the downpayment or closing costs of your first home) and was approved based on his income. In order to be approved, you had to be no more than 80% of the median income of

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