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ameridream: Round 2 - Seller-Financed Downpayment Assistance Programs - Nehemiah & AmeriDream alive? - 01/16/09 11:48 PM
Before you get started, please click on : All out of Love - by : Air Supply - This is how so many others and myself have felt without the seller-financed downpayment assistance programs (DPA's). Such programs sponsored by Nehemiah and AmeriDream....
As many of us know, there are tens of thousands of homes available and vacant due to the foreclosure crisis. As of October 1, 2008, the seller-financed downpayment programs were eliminated with no real answer if they would ever return. I have been in touch with a few people over at Nehemiah from time to time. Well, … (24 comments)
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ameridream: Nehemiah - Countrywide & Wells Fargo.... what do they have in common? - 08/26/08 04:23 PM
What a topic of discussion in the past 30 days....... The DOWN PAYMENT ASSISTANCE PROGRAMS !!!!!!
For many of you, you have until September 30th to have a lender actually underwrite your loan and sign off on the MCAW. For those that don't understand, stop listening to the rumors that the Down payment assistance programs, such as Nehehmiah, Ameri Dream, & a few others, are done after August 29th. That date has been mentioned because Countrywide and Wells Fargo have told their loan officers that they can't accept any loans after August 29th. That is a whole month prior to the … (21 comments)
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ameridream: Down Payment Assistance Programs - Nehemiah, AmeriDream & others.. is there still hope? - 08/13/08 11:26 PM
Down Payment Assistance Programs - To include Nehemiah programs, AmeriDream programs, and many others, have been labeled to be finished as of October 1, 2008 by Congress. In this post, I wrote about the reasons and perceptions to why HUD and the government feel that they need to ban these types of programs. Please read : Nehemiah & Down Payment Assistance programs done? Is this true? - Urgent Urgent -
What has happened since Congress voted to ban these down payment assistance programs, 4 individuals in Congress have turned around and enacted a new bill, H.R. 6694, which would allow the … (13 comments)
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ameridream: Nehemiah & Down Payment Assistance programs done? Is this true? - Urgent Urgent - - 07/17/08 12:53 PM
Do you think the mortgage and real industry as a whole has been bad in the last 2 years? What about the last 6 months? Yes, people are still buying and I am busier this year than last year. Part of the reason is because some lenders are dropping the ball at the end and I am picking up the pieces. But this post is not about that. If you were shaking before, wait until a few months from now.
Down Payment Assistance Programs are now dead in the water....but maybe not. Read more....
The Senate’s decision to … (17 comments)
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ameridream: Nehemiah/AmeriDream Down Payment Assistance Programs (DPA's) - Are they that bad?..... - 06/06/08 10:37 AM
Nehemiah programs are just one form of a down payment assistance program. You can use these in conjunction with FHA loans. There are other down payment assistance programs such as AmeriDream, Genesis, and a few others.
Lately I have been reading a few blogs that state that these down payment assistance programs are like laundering money. Okay.... I'll talk about this in a few. Other blogs have talked about how bad the Nehemiah program in itself is bad. The reason why is because it's more expensive than other DPA programs. Okay? I'll talk about this soon also.
… (105 comments)
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ameridream: Nehemiah - AmeriDream -- The Down Payment Programs live on...!!!!!! - 03/07/08 11:41 AM
With yesterdays news that the new FHA loan limits were increased, and that Judge Lawrence K. Karlton upheld Nehemiah's motion against all down payment assistance programs to be banned, it's been a very good week in the mortgage industry.
Here is part of the letter from Scott Syphax (President & CEO of Nehemiah) who states:
Judge Lawrence K Karlton of the United States District Court for the Eastern District of California upheld Nehemiah's motion for summary judgment. The Court Clerk's Office is directed to enter judgment and close the case.
To be clear, the U.S. Department of Housing … (28 comments)
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ameridream: Nehemiah/AmeriDream Down Payment Assistance Programs (DPA's) still unknown...... - 03/03/08 10:21 AM
The Down Payment Assistance programs are still up in the air, unknown at this time, whether or not that they will be extended beyond the March 28th deadline. This is for all DPA programs such as Nehemiah and AmeriDream.
Judge Friedman of the United States District Court for the District of Columbia issued an injunction prohibiting HUD from implementing the downpayment assistance rule back on October 31,2007. He was suppose to have revisited this ruling on February 28th, 2008. But at this time, the injunction still remains in effect and the judge can come back at any time to … (13 comments)
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ameridream: Nehemiah - Ameridream - FHA financing....what does it all mean? - 02/26/08 11:43 PM
Nehemiah, AmeriDream, and any other down payment assistance program(s) could be ending by the end of March. March 28th to be exact. Does this mean time is running out? It certainly looks like it. If you are in the process with a lender now, you better be on top of them, that they have your loan approved. Better yet, make sure that they have your money registered with the Nehemiah program or the AmeriDream program.
Is there any daylight showing in regards to what Judge Friedman ruled back in October 2007? Latest on HUD Rule -- Insert from the … (17 comments)
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ameridream: FHA mortgages - FHA loans & things that you need to know about them!!! - 12/08/07 11:58 PM
I had a conversation with my dad this evening because he asked me if I had been paying attention to all of the news in regards to mortgages and the real estate market. This led me to explaining to him about FHA and how it's not used as often. Do you know what he said? I thought FHA mortgages were for First Time Homebuyers and for people with bad credit. Rut row....
Hence why I am here to explain to everyone that this is not the case. And as I stated here, Will Conventional loans be just like the … (23 comments)
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ameridream: HUD / Down Payment Assistance programs -- DPA & Nehemiah -- Alive for a while.... - 10/02/07 01:11 AM
Down Payment Assistance programs have been halted, but not dead as of yet. These programs have been known as DPA programs and are most used in conjunction with Nehemiah and AmeriDream®, Inc. There are other non-profit companies that have handled the DPA program, but these two are the largest. Personally I have always used Nehemiah and have found them very useful.
The word out on the street is that as of today, October 1st, 2007, these down payment assistance programs, DPA's, have been stopped. This would have severe implications on many FHA home buyers and even some conventional mortgages. Most of these … (89 comments)
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ameridream: Fact or Fiction? -- HUD/FHA programs dropping or expanding ....... - 05/17/07 10:15 PM
SAY IT ISN'T SO... please, don't.... Well, you better have a back up plan for your clients.
I have heard and read a few perceptions of what is going on in regards to a few HUD - FHA programs from some AR members and others just passing in the streets. What is being mentioned?
HUD is looking to stop down-payment assistance programs. These would be such programs as Nehemiah, AmeriDream, and a few others.HUD is looking to lift the 3% funds requirement from home buyers. Which would mean that they would allow 100% financing.Now, I have a problem with a few of … (15 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
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