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hr6694: The Fight for Down Payment Assistance Is Not Over Yet - 11/13/08 11:19 AM
The Fight for Down Payment Assistance Is Not Over Yet We received an eMail from NAR this morning.  The post contained a pre-drafted letter for REALTORS® to print and send to their Congressional Representatives. While the letter is spot-on, we see an opportunity to add one more bullet point to the letter, that being to urge our Congressional Representatives, to support HR 6694 "FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008".  To that point, we have included our version of the NAR letter in hopes that you have, our reader, have a vehicle to distribute our HyBrid letter … (0 comments)

hr6694: Part 2 - Down Payment Assistance Rescue H.R. 6694 - 09/15/08 11:08 AM
With the melt down of Lehman Brothers Holdings Inc., once the fourth-largest investment bank in the US, the buy out of Merrill Lynch by Bank of America, Insurance Giant AIG looking for $40 Billion in "shore up money", and over 117 banks on the FDIC Watch List (source www.cnbc.com), the negative impact to the real estate industry, particularly the conventional lending arena, could be legendary... perhaps more dynamic and life changing than the events of the Great Depression. These turns of events simply reinforce the need to do all we can to convince congress to pass H.R. 6694 before they adjourn for the year on … (4 comments)

hr6694: Down Payment Assistance Rescue H.R. 6694 - 09/10/08 01:25 PM
By now, everyone, or almost everyone, is aware that the Housing and Economic Recovery Act of 2008 was signed into law by President Bush on July 30th, 2008.  The bill was strongly supported by the NATIONAL ASSOCIATION OF REALTORS® (NAR).  What many don't know is that NAR did not oppose SEC. 2113. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWN PAYMENT, a component of this bill that ripped away Down Payment Assistance Programs and increased the minimum down payment requirement of FHA buyers.  I have searched everywhere to try and find an answer to why NAR would not take a stand … (12 comments)

 

G-II Varrato II

Luke AFB, AZ

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Coldwell Banker Residential Brokerage

Office Phone: (623) 344-4000

Cell Phone: (602) 796-5674

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My BLOG is published to help contribute mine and my wife, Lori Klindera, knowledge and experience of the industry, unusual transactions, and other industry related articles. We are REALTORS for over two decades, practicing first in Florida and now for the past decade plus, in The Valley of The Sun, Phoenix Arizona.


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