H.R. 600 is under consideration in the House of Representatives. If passed, it will restore a lending practice that was barred last year with the passing of the Housing and Economic Recovery Act of 200, seller funded down payment assistance. This type of lending is destructive for our housing market and the nation’s economy as a whole. The bill facilitates home purchases by buyers that are not financially prepared to purchase a home by providing a 100% financing option. Ring a bell? This is the same type of loose lending that got us into the current mess and will only perpetuate the short sale and foreclosure problems. If a buyer can’t scrape together the 3.5% needed to purchase a home maybe they shouldn’t be buying! Warren Buffet last week suggested that maybe the minimum down payment should be 10%. I agree with Warren. Bring sanity back to credit underwriting!