Attention: Realtors, Lenders, Sellers, First Time Home Buyers...Help Save DPA!!!

By
Mortgage and Lending with A&M Mortgage Group 214765

If you're interested in supporting seller involved Down Payment Assistance programs, please visit this website and take action.Save DPA

 

Consider that:

•       most DPA transactions involve First Time Home Buyers

•       First Time Home Buyers are the beginning of the "food chain" in the residential Real Estate business

•       The Real Estate business is the engine of our economy

 

For those of us that get this, we need to help the politicians understand and revise regulations. We don't have much time before the elimination of these programs at the end of September. Major lenders (Chase is one) are already rejecting DPA transactions. More will follow.

 

http://www.DPAGroundswell.org/

If you support this, this is one message that you should strongly consider passing on to your email list of friends, family, past clients, prospects...

Take action now!

All good wishes,

LP_stippled

Larry Penilla
Senior Loan Officer
First Mortgage Corporation

Office: 219-865-0505 ext 305 
Toll Free: 800-278-6819 ext 305
Mobile: 219-765-1630 (urgent matters)
Fax: 219-864-1481 Email:  LPenilla@FirstMortgageCorp.com
Website: www.LarryTheMortgageGuy.com

PS. "I specialize in helping individuals and families find, qualify for & finance a home of their own often with little or no money down and less than perfect credit. I invest over 22 years of experience into every new client's transaction and fully guarantee my service meets or exceeds expectations."

PPS. "If you or anyone you know needs a good/honest/hardworking (fairly humble) Senior Loan Officer for an excellent mortgage experience, I have hundreds of testimonials & references... Please, don't keep me a secret!"

Comments (6)

Justin Ukaoma
Vizion KC - Kansas City, MO
Kansas City Real Estate Investments

Hey DPA might not be dead check it out.  http://www.yourfhaguru.com/

 

Aug 13, 2008 04:10 AM
Dayna Sullivan
Eagle Nationwide Mortgage Co. - Houston, TX

Thank you! I think we all need to step up and take action! I just completed my 10th letter to my congress. 

Aug 13, 2008 04:10 AM
A&M Mortgage Group: Larry Penilla
A&M Mortgage Group - Merrillville, IN
Northwest Indiana Mortgages - Home Loans

Thanks Justin for providing this info:

Down Payment Assistance May Not Be Dead!
07/31/08: Congress introduced bipartisan legislation, H.R. 6694 that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation, sponsored by U.S. Reps. Al Green (D-TX), Gary Miller (R-CA), Maxine Waters (D-CA), and Christopher Shays (R-CT) reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999. The program was eliminated by legislation signed by President Bush on July 30, 2008.

And thank you Todd and ? (Eagle Nationwide Mortgage) for taking the time to comment. LP

Aug 13, 2008 04:35 AM
Travis Newton
Salem and Bend Oregon FHA, VA & USDA 503.931.4490 - Salem, OR
FHA, USDA, VA, LOAN EXPERT - Salem OR Homes For Heroes SALEM OREGON

Yes, we do need to do all we can to keep this program.

Aug 13, 2008 04:38 AM
Randall Schrader
Competitive Insurance of Dundee - Dundee, FL

I wish they would save the programs, but our legislators are on vacation and will only address DPA to save face.  Any bill to really save these would be unsupported in my opinion.  Too bad.

Aug 13, 2008 04:51 AM
Chad Weber
Loan Officer Marketing Lab/ Real Estate Marketing Lab - O'Fallon, MO

Great update Larry! Keep up the informative posts!  :)

CW - http://www.loanofficermarketinglab.com

Dec 09, 2008 11:47 PM