I did an earlier blog on down payment assistance programs (DPA) and how they can be used to help first time homebuyers get into their first home, especially with the tie in to a FHA loan.
HUD has been trying to get rid of these programs for some time and nearly got it done before Nehemiah took them to court and got an injunction stoping the rule from closing down the DPAs. Now, a new rule has come up that will effectively close the DPA loophole.
To stop this for happening, please follow this link to Nehemiah where you can tell your story about how DPAs have helped you or your clients get into their dream home. We have about a month to keep this rule from going into effect. Please be active in this call to arms and forward it to everyone you know that can help:
http://capwiz.com/nehemia/issues/alert/?alertid=11593556
Thanks
Made my comments on the link. Thanks for the link Fred.
Thanks for the link and I know that this program has gotten lots of people in to great homes and I think it is a must for a lot of people. Some people I knew were paying more for rent than they do for a mortgage, just because they couldn't come up with a down payment and now they have homes they can call their own!