My friend Jeff Belonger was kind enough to make this available for a re-blog. This is a very important issue affecting our industry and I am rooting for the return of the seller funded down payment assistance programs. Nehemiah worked wonders in New York City and I definitely want these programs back.
Nehemiah Corporation is putting together a town hall meeting in regards to the seller-funded down payment assistance (DPA's) reform act of 2009 that introduces bill H.R. 600. This bill is last years version of H.R. 6694 and is being backed by Senator AL Green (D - TX).
If many have been following the news and my blogs since August 2008, you will understand that there has been very strong support for this bill. Right before the deadline last year, many members of congress came to an agreement and asked for certain things to be implemented. Such things as credit score requirements, which can be read about here.... Compromise to bill H.R. 6694
Scott Syphax, CEO of Nehemiah corporation will be heading up the meeting, with some important topics on the agenda. The main one is to have bill H.R. 600 included in the new stimulus package which newly elect President Barack Obama will be introducing in the next month or so. And if you have been following my blog updates about the down payment assistance programs, you'll know that I believe that there is a place for them and that they do work. It comes down to educating the borrower about homeownership and walking them through the steps.
Help support GroundSwell2 and help fight restoring the seller-funded down payment assistance program. Take a step as I did in September, and participated in the Nehemiah rally for DPA's.
Here is a blog and a video from when I went to DC to talk about the DPA's.
Let me leave you on this important note.... I am sure many of you have heard the negative feedback from HUD to as why these types of DPA programs aren't as good for our economy now. There was never a true and reliable independent company that did accurate surveys up until the very end, before the seller-financed DPA's were eliminated.
Ken Cook wrote this excellent post about myths and misleading facts ... please read : Opposition of Down Payment Assistance
Meeting time & date :
Friday January 23rd at Noon EST
Dial in #: 877-269-7289
Space is limited.... PS... if you can't attend, I will have an updated blog with an audio recording. thanks
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For more information on FHA loans, please go to this link. The FHA Expert
For more information about the 2008-2009 Tax Credit for First Time Homebuyers : 2008 Tax Credit
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!
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