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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.

Nehemiah is very solid in terms of everything else, and we have prepared for this day over the past two years," he said.

The firm has steadily remade itself into an urban developer, with an eye on building nearly 3,000 residential units just north of downtown Sacramento. Recently, it received $19 million in state housing bond funds for its 65-acre development, called Township 9.

 
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10 Comments on Ban expected on Nehemiah down-payment program

I have heard that they were planning on doing away with the Nehemiah program for a while now. I really hope they dont. It has helped so many families. Thanks, Keith

07/24/2008 05:52 PM by Keith Goodman

why NOW? is my question

07/24/2008 05:58 PM by Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)

Keith:

Sorry to hear that this program is on the endanger species list. I haven't used it but the numbers speak for it self.

 

07/24/2008 05:58 PM by Lorraine and Loretta Kratz (Crescent Moon Realty, Inc. & Land N Sea Auctions.)

My guess is that this buyer is one that is now having problems with little equity in the home. It is very sad but I do understand

07/24/2008 06:02 PM by Weichert Realtors Bridges & Co. Barry Bridges

This would be very bad!  Many clients that contact us are looking for some type of down payment assistance.  This would prevent many potential buyers from being able to purchase right now when its finally affordable!

07/24/2008 06:40 PM by Tony Sena - Realtor, Las Vegas Real Estate (North American Realty of Nevada)

Tony: Our government need to ensure that all americans with good credit can continue to buy homes

07/24/2008 07:31 PM by Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)

how will all this play out

07/27/2008 10:21 AM by Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)

Steve:  I want to answer your question "why now"?  If the govt doesn't have control over something, they want it.  I believe that's why now.  They have been trying and unsuccessful for some time now and used this hole to close the loophole.  There will be lawsuits to challenge the law from the nonprofits.  The outcome remains to be seen.

07/27/2008 11:54 AM by Renee Burrows - Las Vegas NV Real Estate (Nevada Realty Solutions)

With All the bank failures and financials in turmoil, you would think that these programs would thrive.

07/27/2008 12:07 PM by Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)

help and rally for the cause

08/14/2008 05:37 PM by Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)

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Real Estate Agent: Steve Harless "Your Las Vegas Real Estate Connection" (REALTY WORLD LUXURY HOMES - 702.217.1680)
Steve Harless "Your Las Vegas Real Estate Connection"
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