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Bravo - Finally - Now, lets hope it passes

It seems that someone in Congress understands what down payment assistance means to the housing industry.The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694)

If this bill is not passed it will take nearly 300,000 potential home buyers out of the market. Let me wite that again for those not quick enough to understand that. 300,000 possible home buyer out of the market to buy a new home.

Oh, the few that have seen the light Maxine Waters, Gary Miller, Al Green and Christopher Shays. I am sad to say that I do not know what states they are from, but here is to them for being forward thinking.

There are a couple of ways for you to take action to help this new bill pass...

Please Write Your Elected Officials:
Please take a minute to submit your comment regarding the urgent need to pass HR6694 that allows for downpayment assistance to continue indefinitely.

Please Call Your Elected Officials:
Place a call to your Senator and Congressman that will make a huge difference to help save down payment assistance programs.

To fing your local elected Representatives:

1. Go to Elected Officials on the GetDownPayment.com website

2. Enter Your Zip Code.

3. Click on the link of the Representative you would like to call and then click on the Contact tab to find their Washington D.C. and District office phone number.

4. NOW GO & CALL THEM

5. TELL THEM TO VOTE TO REINSTATE - SELLER FUNDED DOWN PAYMENT ASSISTANCE

I am Dave Woodson and I am the Mad Mortgage Machine

Indiana's Loan Officer

Posted by Dave Woodson on 08/02/2008 09:05 AM

Comments (6)

hr6994, downpayment, seller funded down payment assistance, dave woodson, fha

Originally posted at: The Mad Mortgage Machine: Bravo - Finally - Now, lets hope it passes

This post has been included in Indiana Information Porter County, IN Information
Post is included in group: Mortgages
Post is included in group: Porter County Indiana
Post is included in group: Indiana Real Estate Professionals
Post is included in group: Mortgage Originators
Post is included in group: Northwest Indiana - Chicago Southshore

6 Comments on Bravo - Finally - Now, lets hope it passes

AUG

2008

Hard post to read, maybe you can fix the code

Jeffrey

considered it fixed - thanks for commenting

this is just a small small piece of the bigger problem. patricia4realestate.com

Dave,

Thanks for the post. This is a major issue for many potential buyers. They have the credit and the ability to pay the mortgage. However, they have no savings. Kind of difficult to save when the cost of living is through the roof. However, any contribution to savings is a good thing. I would recommend counseling on the homebuyer process and budgeting, as a qualifier for the assistance.

Dave, WOW that was quick. Glad to see this come about so quickly....thanks for keeping us in the loop....will watch and support.

Hi Dave,

Thanks for the info. We need all the buyers in the market that we can get!

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