Down Payment Programs Not a Scam, FHA to Tell Watchdog

WASHINGTON -- The Federal Housing Administration is expected to rebuff a government watchdog report that criticized down payment assistance programs, questioning why low-income borrowers are charged nominally higher mortgage rates for such programs.

The Department of Housing and Urban Development's Office of Inspector General took issue in a report earlier this month with the so-called "premium pricing" of two down payment assistance programs in Arizona.

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