Question about Nehemiah DPA program

We have heard that the Nehemiah went away, but now have curiosity about it ........think I will find out about that!

The federal courts set aside the case HUD had against Nehemiah. For all intents and purposes  the program is on with no cut off date. The only issue left is that congress may still act on the issue but for now it's a go.

Nehemiah won a court battle with HUD last month and is certainly being used more than ever now.  This is due to the fact that private mortgage insurers are no longer wanting to insure 100% LTV loans.  This opens up a huge market for FHA lending in conjunction with down payment assistance programs like Ameridream or Nehemiah.  There are currently FHA reform bills in Congress.  The House has proposed a 0% down FHA program, but the Senate is leaning more toward 1.5% down minimums.  Either way, it appears that Congress will make changes in this FHA Reform Bill that will create very little need for the down payment assistance programs down the road.  In fact, I have been told that Congress plans to ban the use of the programs when the reform bill passes.  For now, however, I would certainly suggest using these programs to help more clients get in homes.  Hopefully, this bit of information helps to answer your question.

Only thing I can say about Nehemiah is that the preferred lenders I have used often choose the DPA instead due to lower fees involved.

I have a buyer who is working with Nehemiah right now...I don't think it's gone away, at least just yet.

 

Hey great post.  And also great responses, this is helpful for all of us who may end up in this situation with a buyer.   

Here is some info on the actual summary judgment on the court case.

 

Nehemiah Program Court Case 

 

 

I don't know much about that program..but there is another program, in a similar situation..Ameridream....was also saved in court...these are important programs for homebuyers....and I have already done 2 deals where we have used them..