What YOU can do to save down payment assistance programs

Real Estate Agent with Maximum One Greater Atlanta Realtors

Down payment assistance programs were put in place to help those who have good income and solid credit and can afford monthly payments on a mortgage; but who lack the cash to put a significant down payment.  These programs are very good for our overall economy and the housing market in general and due to the current issues in the mortgage markets, they are in danger of being taken away.  The reason we have tax benefits to home ownership and other perks is because it has been proven that it is generally better for our economy if people buy homes instead of renting and the government has tried to encourage this as much as possible.  Too many renters leads to instability, transitory schools (different students each year), lack of personal wealth through equity, and a bunch of other issues.  Right now, with the state of the current housing market, the last thing we should be doing is discouraging buyers and removing the ability to buy from even more people as this will further upset the balance of supply and demand in the housing market.

I have taken action on this by notifying my local politicians about my opinion on this issue and you can too.  The following link will take you to a site where you can easily send your opinion in a matter of seconds if you live in the state of GA.  If you are outside GA, I'm sure you have a similar site; but you'll probably have to Google for it.

You do not have to be a real estate professional to speak up on this.  The decisions that are made will affect everyone; whether they are in the industry or simply a consumer / homeowner.

Sharon Roark
United Real Estate Lexington - Lexington, KY
Realtor Extraordinaire in Lexington KY

Matthew -- I've already written my officials but thanks for putting up the reminder to everyone. I've had 2 deals so far this year that wouldn't have gone through had it not been for down payment assistance.

Jul 23, 2008 03:39 AM
Mike Russell
Revolution Real Estate Group | Real Broker, LLC - Overland Park, KS
Overland Park Kansas Real Estate

I have 2 deals right now that are DPA and have several other who might get short changed if this happens soon.

Jul 23, 2008 03:43 AM