This evening I received an email from the Nehemiah Corporation that new legistation was introduced in Congress this week that is intended to reform and re-introduce seller-funded downpayment assistance programs (Nehemiah, Ameridream, etc.).
HR 600 apparently replaces last year's HR 6694. Seller funded downpayment assistance programs were eliminated by provisions in HR 3221. If you would like to express support for HR 600 to your local lawmakers, you can visit DPAGroundswell.org.
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We can all help restore DPA!!! we need to take ACT NOW!!! Please go to this link http://capwiz.com/nehemia/issues/alert/?alertid=11709431 and write a letter to your congressman supporting H.R. 600. This will only take a few minutes!!!!! The more contact we have with our elected officials the better chances we have that they will support the HR 600 Bill to reinstate & reform down payment assistance programs.
The FHA Seller-Financed Downpayment Reform Act of 2009 (H.R. 600), a bi-partisan bill introduced by Congressmen Al (D-TX) would restore seller-funded downpayment assistance (DPA) indefinitely. H.R. 600 is the 2009 version of last year's bill H.R. 6694.
A report issued by the Congressional Budget Office (CBO) confirms that H.R. 600 would not cost the federal government or taxpayers any money. In fact, the Congressional Budget Office estimates that seller-financed DPA will generate $65 million over the next five years and save taxpayers $13 million next year.
Reinstating DPA could help ensure continued liquidity in the stagnating housing market by providing aid to an estimated 600,000 working-class people for home purchases next year, generating $150 billion in home sales.
Reviving DPA under new standards will effectively balance the risk of potential foreclosures with the goal of increasing homeownership.
We can all help restore DPA!!! we need to take ACT NOW!!! Please go to this link http://capwiz.com/nehemia/issues/alert/?alertid=11709431 and write a letter to your congressman supporting H.R. 600. This will only take a few minutes!!!!! The more contact we have with our elected officials the better chances we have that they will support the HR 600 Bill to reinstate & reform down payment assistance programs.
The FHA Seller-Financed Downpayment Reform Act of 2009 (H.R. 600), a bi-partisan bill introduced by Congressmen Al (D-TX) would restore seller-funded downpayment assistance (DPA) indefinitely. H.R. 600 is the 2009 version of last year's bill H.R. 6694.
A report issued by the Congressional Budget Office (CBO) confirms that H.R. 600 would not cost the federal government or taxpayers any money. In fact, the Congressional Budget Office estimates that seller-financed DPA will generate $65 million over the next five years and save taxpayers $13 million next year.
Reinstating DPA could help ensure continued liquidity in the stagnating housing market by providing aid to an estimated 600,000 working-class people for home purchases next year, generating $150 billion in home sales.
Reviving DPA under new standards will effectively balance the risk of potential foreclosures with the goal of increasing homeownership.
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