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Bipartisan legislation would reauthorize downpayment assistance

By
Services for Real Estate Pros with RealEstateLatino.com

H.R. 6694 is approved by key Congressional Committee

GAITHERSBURG, MD - Ann Ashburn, President of AmeriDream, issued the following statement today after the House Financial Services Committee adopted H.R. 6694, legislation designed to reauthorize and reform downpayment assistance programs that the Bush Administration banned in July.

"Today's committee vote was a positive step toward preserving downpayment assistance, but our work is far from over," said Ashburn. "Now more than ever, members of Congress need to know that Americans are watching their vote on H.R. 6694. I encourage members of the public to tell their representatives in the House and the U.S. Senate that a vote for H.R. 6694 is a vote for the next generation of homeowners."

H.R. 6694 would reinstate FHA seller downpayment assistance for persons with certain credit scores. Learn more about H.R. 6694 by visiting www.supporthomeownership.com.

 

 

Comments (2)

Anonymous
Michelle

The first battle has been won but not the war.  We must voice our support of this bill and let our representatives in Washington know how important down payment assistance is!  Let's keep the dream of homeownership alive!

Sep 20, 2008 11:08 AM
#1
Sheyenne Schultz
The Realty Group - Torrance, CA
Got 2 SELL? or BUY? Just CALL SHY! 310-429-4170

I represent alot of buyers out here in the SouthBay area of Los Angeles...and let me tell you...the down payment assistance program...was literally responsible for bringing alot of firsttime homebuyers who were sitting on the sidelines...out to buy and actually RELIEVE us of our over burdened inventory. If it wasn't for these programs...these people...who are all good people...would NOT be in the homes they are in today!..If we shut off this program, making it hard for first time homebuyers..to take existing inventory off our hands..and keep the buying process flowing and the economy going..then we will see a backlash of epidemic proportions...Keep the programs...it WORKS!! Take it from someone out in the trenches....if you make it impossible to buy? How will homes sell??????????

Oct 07, 2008 10:14 PM