Frequently Asked Questions
Welcome to the Punctual Payment Program FAQ page. Below are the questions we have found are asked most often. To view the answer to a question simply place your mouse over it to reveal the answer.
Q. What is HUD's position on the Punctual Payment Program
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Q. Is the builder/seller making the payments for the homebuyer?
Q. Where does the money come from?
Q. Is this a seller funded downpayment replacement program?
Q. What are the income requirements for the Program?
Q. Is this the builder's Program to market and advertise?
Q. What is required of a participant?
Q. When will the homeowner be receiving their reimbursement?
Q. Can the homeowner assign reimbursement payments to a third party?
Q. What is your web address?
Q. Can the Rainy Day Foundation operate in all 50 states?
Q. Is there any other obligation for homebuyers except the requirements listed in the Homebuyer Agreement (i.e. Debt Counseling, etc?)
Q. Is anything reported to a credit bureau?
Q. Is there additional risk to the lender on loans with this Program?
Q. You mentioned risk mitigation tools. What are these?
Q. Do you think the homeowners will save the majority of their reimbursement money?
Q. How can you be sure they will save money?
Q. Who is the Rainy Day Foundation and why should we feel comfortable in their administration of the Program?
Q. Are the reimbursements taxable to the homeowner?
Q. How long has the Program been in place?
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Program Participants
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Program Process Timeline
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Marketing The Program
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Online Registration Form
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Partner Secure Sign-In
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The Rainy Day Foundation
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