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Blog entries tagged with "nehemiah":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
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THANKS NEHEMIAH! THANKS MR. BUILDER.
With all the misspent funds for the $700 billion Bucks for Banks program now well underway, we are still left with millions in home inventory and millions of prospective home owners unable to buy because of a lack of down payment.
An Open Letter to Congress from a Veteran Realtor
To my readers: As all of you loyal readers know, I have long supported Seller Funded Down Payment Assistance (DPA) programs such as Nehemiah and Ameridream. They fill a need for buyers who are NOT bad buyers. I have sold many houses this way and not one that I know … (4 comments)
There has been much conversation lately about the demise of the down payment assistance programs – primarily the Nehemiah Corporation. This type of program has been a true benefit for many that have wanted to purchase a home of their own.
Please click on the link below to write to our lawmakers:
Anyone still trying to write a contract using NEHEMIAH loan programs? Contracts must be in to lender by no later than this Friday 09/12/2008 in order to close. Loans have to be through underwriting by the end of the month. That means anyone wanting to buy a home using the NEHEMIAH … (0 comments)
Let's not be too quick to schedule the funeral for Down Payment Assistance (DPA) programs such as Nehemiah yet.
Chairman Frank and HUD Secretary Preston Negotiate DPA Agreement 
I just got this email from Nehemiah:
I have seen a dramatic rise in buyer activity and offers in the entry level price ranges in the last three months. With information about down payment assistance programs, somewhat stable interest rates and an excellent selection of affordable homes the word has gotten out! It is not unusual to see … (1 comments)
Good info to be sure, thanks Jeff. If you are not a subscriber to Jeff's blog, I would highly recommend making that a priority. He spends significant time putting these together and deserves all of our appreciation. Rock-n-roll Jeff.
With all the foreclosure talk and the reasons behind it, it may come as a surprise to some that 100% financing still is alive and well. While conventional lenders have abolished straight 100% financing, the Federal Housing Administration (FHA) loan has again become the favorite loan program for home buyers everywhere. 
We need everyone at the Stockton Arena (248 W. Fremont St.) Saturday September 6th (This Saturday) at Noon . (Pretty Please) Congressman Barney Frank, who is one of the most influential people in the Housing Industry in this Nation, will be conducting a field hearing. He was invited by Congressmen … (0 comments)
Ready to purchase the lavish real estate in Sandy Springs and Metro Atlanta? Well the rules to do so are changing quickly. Stay informed and prepare yourself for the good, the bad, and even the ugly.
Yes it's true. The Nehemiah Program that provides downpayment assistance to First Time Home Buyers will be eliminated effective October 1, 2008. 
Dear Potential Buyers,
First let's set the record straight and say that HR 3221 did not end Down Payment Assistance. What it ended is what is called seller funded or interested party down payment assistance. DPA is still available in a much less regulated way than the type of DPA which was just "outlawed".
Good Saturday Afternoon to all that read this as I post! I wasn't sure what to talk about today as I'm trying to figure out how to discuss current real estate issues without the whole thing coming off like I'm screaming 'the sky is falling!' Because!!! It isn't! What a relief … (5 comments)
Maybe you have heard the news, maybe you have not...Seller funded Down Payment Assistance is scheduled to "exit stage left"on October 1st of this year. Depending on your market, you may think this may not affect you. Guess again. This travesty will continue to effect the downward spiral in the housing market for … (0 comments)
Hi,
We are all aware of the impeding elimination of the Nehemiah program. My understanding was that a buyer needed to be credit approved and registered with Nehemiah before 10/1 to still be able to go through with the down payment assistance. I have heard different things today and yesterday. First, I have … (2 comments)
Daily Real Estate News | August 19, 2008
If you have a buyer using downpayment assistance, you need to act now.
To use Seller Funded Down Payment Assistant (DPA, Nehemiah), final underwriting must be completed by September 30, 2008. This type of DPA will not be available after September 30. Two out of every three FHA loans are currently using Seller Funded DPA so it is important to act now!
I am fairly certain that Nehemiah's efforts with DPAgroundswell.org is a final and futile attempt to save "charitable" down payment assistance programs. In a mortgage and real estate market bleeding with risk I find it unlikely the Congress is going to unwind a conscieous risk mitigattion provision in the recently signed … (4 comments)
One Action Every Day To Help Save Down Payment Assistance!
8/13/2008
Download a web badge or button to use on your blog, website or email signature to help spread the word about saving down payment assistance programs.
Nehemiah has launched a web community to help fight the elimination of Down Payment … (7 comments)
The support for H.R. 6694 the bill recently introduced to revive seller assisted DPA is growing.Supporters include Jerry Howard, chief executive officer of the National Association of Home Builders, said the association supports HR 6694.
Last week I wrote that this was coming. I mentioned how down payment assistance programs like Nehemiah might go away. Well, it's been passed into law now. For buyers and sellers who do not know what I'm talking about...here's the run down: For a long time it's been quite the norm … (11 comments)
HR 3221 has passed and as of October 1st of 2008 there will be no more Nehemiah, AmeriDream, and other down payment assistance programs that have been so important to helping people buy their first home.
Thanks for visiting my blog. In this post, I want to give you some of the facts about things going on in the mortgage industry. For example, the Nehemiah Program. This program has helped over 275,00 people become homeowners. This program provides funds for down payment and towards closing costs to … (0 comments)
The down payment assistance program is set to end October 1st, 2008. This will mean the seller can no longer offer to pay the 3% down for you in an FHA loan. The funds will need to come out of your pocket.
What impact will the loss of downpayment assistance programs like Nehemiah and Ameridream have on housing prices overall? And how about in already foreclosure-depressed markets like Arizona, Nevada, California and Florida?
Some ideas are so good and at the same time so bad when they are used incorrectly. And what happens to good ideas and programs that are not used as they should be? They go away and then serve no one. HR 3221 was signed into law by President Bush, is … (14 comments)
Sorry to be a broken record on this subject; You've probably heard this already, but it bears repeating. Realtors, Buyers, Sellers! We could certainly use your support to keep DPA (Down Payment Assistance) programs like AmeriDream, HART and Nehemiah viable and within limits.
When President Bush signed HR 3221 into law on July 30th, 2008, he took what may be the most damaging step to actually hurt the housing market. I say this because he has completely done away with the FHA Down Payment Assistance program and raised the minimum percentage of funds that the … (2 comments)
My subject in this blog is "Down Payment Assistance" and how it works. This is a program that's been around for quite a while, however it's one of the most underutilized programs out there....largely due to the fact that it's not clearly understood. 
Agents, buyers, and sellers may have, in the past, utilized Down Payment Assistance Programs such as Ameridream or Nehemiah. It seems many agents do not realize these programs are currently available. I have personally closed two deals in the past two months where my buyers have utilized these programs.
Two weeks, ago , I wrote the following article on my blog Wexzilla.com asking the question i
I've been receiving several calls of concern regarding the elimination of the down payment assistance program. I'm not too sure what exactly is stated in the H.R. 3221 Housing and Economic Recovery Act of 2008l but it sounds a little frightening. I would have to say that about 90% of all … (5 comments)
It's true. There are lots of reasons that buying now is a good idea when it comes to real estate.
Well,
would allow for Down Payment Assistance Programs indefinitely. Lest we forget Hart, Ameridream, Grant America, etc...
In light of the changing mortgage industry, many people are under the mistaken impression that they will now have to have incredible FICO scores, 20% for a down payment on top of their closing costs in order to purchase a home. This has been the impression given by the media but … (0 comments)
President Bush is expected to sign a bill into law soon that gives prospective home purchases two strong reasons to buy now! 
As of this morning, President Bush has signed HR 3221. Also this morning, I got an email from the Nehemiah Corporation urging people to save Non-Profit Downpayment Assistance Programs by contacting your local representatives and asking them to create and pass new legislation that allows this sort of assistance. Visit Nehemiah's … (5 comments)
I have a couple links that have some great information on them. The first talks about President signing the bill into law the 2nd is how it will help the average person.
http://money.cnn.com/2008/07/26/real_estate/housing_rescue_guide/index.htm
http://news.yahoo.com/s/ap/20080730/ap_on_go_pr_wh/housing_bill
I will keep posting stuff about this bill, because it might be one of the biggest steps … (1 comments)
While Nehemiah and Ameridream are living out their final days I thought I'd send you a positive message about how you can still get the financing you need.
Here is my Weekly News Brief and Featured Property in Houston.
Most people understand the concept of the domino effect on the real estate market. The starter homes must sell first so the owners of the starter home can move up to the next price level, which allows another home to sell and another; much like a child's game of dominos.Fortunately the … (32 comments)
Just when buying a house couldn't be any more challenging today, Congress and President Bush railroaded the FHA buyer with a last minute addition to HR 3221aka, - The Housing and Economic Recovery Act of 2008 - aka, The Foreclosure Prevention Act of 2008 - aka, The New Direction for Energy … (1 comments)
Just when buying a house couldn't be any more challenging today, Congress and President Bush railroaded the FHA buyer with a last minute addition to HR 3221aka, - The Housing and Economic Recovery Act of 2008 - aka, The Foreclosure Prevention Act of 2008 - aka, The New Direction for Energy … (1 comments)
Originally posted on http://primerealestatelasvegas.wordpress.com.
Breaking News!
As predicted in yesterday’s blog titled, The Good, The Bad, The Housing Reform Bill, The U.S. Senate just passed bill H.R.3221 (the Federal Housing Reform Bill) by a margin of 72-13 The House passed the measure on Wednesday 272-152.
With the bill, now going to … (0 comments)
I am sure many of you are anxiously awaiting the Omnibus Housing Bill that recently passed through the house. Hopefully it will soon be passed by the Senate, and then signed off by the President. Here is what I have been hearing about the bill and how it can help get … (1 comments)
Seller assisted down payments are going away. With the current legislation that was just passed, seller assisted programs are going away. If you are buying a house with the Nehemiah, you need to move on it as quickly as possible. No one knows for sure but it looks like your deal … (6 comments)
A signature Sacramento program that has helped almost 300,000 lower-income people nationally buy homes in the past decade - while stirring controversy for years - is likely to be shut down this week, Nehemiah Corp. of America officials acknowledged Monday.
Any agent hoping and praying that down payment assistance programs for FHA will remain in place...
If you do not wish to receive email from Nehemiah Corporation of America in the future, please reply and type the word REMOVE in the subject line or click here to unsubscribe.
… (2 comments)
If you are intent upon getting 100% financing and are eligible for a VA loan or can purchase a home outside of the Orlando area and can get a conventional loan for 100% financing through the USDA Rural Home loan program, then GREAT. Otherwise, if you are a housing industry professional, … (4 comments)
With lender after lender closing their doors and loan programs being shut down one after another the options for fiancing a home are looking bleak. Loan programs that once allowed people with little savings to purchase a home have been virtually eliminated, which has put many of my clients in Snohomish … (0 comments)
I did an earlier blog on down payment assistance programs (DPA) and how they can be used to help first time homebuyers get into their first home, especially with the tie in to a FHA loan.
I was reading an article this morning regarding the down payment assistance offered to many FHA borrowers in Arizona. It seems there is some debate as to doing away with or keeping the AmeriDream and/or Nehemiah program. Typically first time home buyers use the FHA program because only 3% is required … (25 comments)
I received this in an email moments ago from Mark Kilfeather, First Savings & I wanted to spread the word! For information on this or other loan programs, please contact Mike: http://www.markkilfeather.com/
… (5 comments)
As a Realtor®, I am out in the trenches every day, and see first-hand the huge number of foreclosures and the problems they have brought not to only the owners that have lost their homes, but to the owners that are diligently paying their mortgage every month. And then finally, a … (10 comments)
… (0 comments)
Charitable Down Payment Assistance Programs: Friend or Faux?Charitable organizations that offer down payment assistance programs have been under heat in general for the potential "loop hole" risks and other issues outlined by HUD, the IRS, and real estate professionals. Typically offering between 1 and 3%, charitable organization offering down payment assistance … (5 comments)