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getdowmpayment.com is nehemiahs website.

Includes a form for H.R. 6694 supporters to complete if they wish to send emails or letters to the congressional representatives.

Nehemiah, the country's largest seller assistance program, gifts mortgage down payments to buyers from sellers. We dont want to lose this. Half the homes in Las Vegas sold are using the nehemiah. We need to write to stop this. Or worse is yet to come. www.merriperry.com thanks

Merri Perry - Realtor

Posted by Merri Perry on 08/11/2008 01:20 AM

Comments (9)

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9 Comments on getdowmpayment.com is nehemiahs website.

AUG

2008

Yes, you are right. We need to ensure that every buyer who can't come up with even a paltry 3.5% on their own is able to purchase a house immediately.

Someone who has not even mustered that small amount of cash is not likely to have the financial discipline to manage a mortgage.

Did you know that those buyers typically default at a much higher rate than buyers who come up with the cash on their own?

Some people are not ready to be homeowners, no matter how much they and their agent FEEL the are 'ready to buy'.

I'm not so sure how worthy someone if they cannot save up even 3.5% for a down payment.... the seller can still pay for the closing costs.

Cameron Novak
Sierra Del Oro Real Estate Broker
The Homefinding Center^TM
Corona, California
951-212-7479

Chat About Sierra Del Oro Real Estate 24/7/365

I don't think it means their not worthy if they can't save 3.5% and if they want to uy right away this helps.

It really depends upon the price of the house. In this area, first time home buyer prices are 250k-330k. 3.5% can be in excess of $12,000. Add in closing costs and now that amount increases to 15-18k. These buyers do need help buying their first home.

I disagree alot of people are renting homes or apartments, and I am getting them in a home that is alot cheaper for them in the mortgage rate then what they where paying for. Whether they have the money or not, if nehemiah is giving it too them for free, and we are getting buyers out of it, that where just renting before. Why do we care . I feel if it is free to my client I should do and get what is best for them, than to just conclude they are not worthy of getting the down payment assistance from nehemiah. It is not my business if they can come up with the money or not if they qualified for the program. Thanks for the read, and the responses. Merri

AUG

2008

I agree we cant lose this program, respond back.

This program is very important. Almost all of my transactions in residetnail this year have been with this program. It is very important.

It's not a moral judgement about being 'worthy'.

It's about the fact that if someone has not had the financial stewardship to accumulate some cash assets, they are unlikely to be able to manage a household.

Home ownership is about more than the payment; I'm sure you know that. There is maintenance and upkeep as well. So what if someone can make the payment?

Just because a buyer THINKS they are "ready", does not mean they actually are ready. Readiness is determined by some objective standard of financial strength, not by their desire for a house and their realtors desire to make a sale.

I'm calling my congressman and telling them not to bring back DAP.

If we dont have programs to help first time homebuyer's we wont get them to stop renting, and that is our job to let these people know they can get a home with help.

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