As you know, down payment assistance (DPA) programs (AmeriDream, Nehamiah, etc.) are being eliminated after 9/30/08.
HR 6694 was created within hours of HR 3221 being passed on July 30th of this year. The major purpose of HR 6694 is to reinstate/keep down payment assistance.
Click the blue "click here" button below so YOU have a voice on the subject of DPA. It will literally take you 2-3 minutes to send a quick email to Speaker Pelosi.
How the elimination of DPA will impact your clients, your business, and your income:
- Up to 70% of loan volume with some major banks and lenders are FHA loans
- 40-50% of FHA loans use DPA programs like AmeriDream or Nehamiah
DPA not only impacts Realtors and builders working with 1st time borrowers.
If you don't personally have/work with clients directly impacted with this issue, consider this domino effect:
- A million home is bought by a person who sells his/her $700,000 home
- That $700k home is bought by a person who sells his/her $500,000 home
- That $500k home is bought by a person who sells his/her $300,000 home
- That $300k home is bought by a person who sells his/her $225,000 home
- That $225k home is bought by an entry-level buyer, who is getting a FHA loan with DPA
Tell Congress that time is Running Out,
They must save Downpayment Assistance
before October 1st!
Click Here to send a message to Nancy Pelosi, Speaker of the House of Representatives
Call her office at either 888-802-1207 or 202-225-0100
Let her know that Congress MUST save Downpayment Assistance before October 1, 2008.
The American people need Downpayment Assistance now more than ever!