Has anyone heard of an FHA savings account? Supposedly will let you save for a downpayment for a home, (although why a regular savings account can't be used for that, I don't know). I don't know if this is (or similar to) the Bridal Registry Account offered by HUD. If anyone has any light they can shed on this for me, I'd appreciate it.

Have a great day!

bump

We do a fair amount of FHA lending and I have never heard of this. Where did you see it?

We actually had a customer come in asking about it, and management is interested in how it is done. I did a search and found very basic info, the only bank that had any substantial info was Suntrust.

HUD has some info at this URL (wouldn't paste in right) http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=97-$[no]&op1=AND&SECT1=TXTHLB&SECT5=MLET&p=1&r=31&f=G, but no detail on how to set it up. That's what I'm looking for.

Sorry, I can't be of any help right now, but I will continue to research this and if I find out anything I will post it.

Any help is appreciated.