The Nehemiah down payment assistance program is in danger and we are asking you to help save it.
Nehemiah is a nonprofit organization that gifts buyer's up to 6% for their down payment. The Seller then makes a contribution to Nehemiah in an amount equal to the gift Nehemiah provided to the buyer plus a small processing fee. This makes it possible for more eligible buyers get into homes and therefore for more sellers to sell their homes.
Housing and Urban Development (HUD) and the Senate are working together to create a housing bill that will eliminate down payment assistance. If they succeed and the President signs the bill, down payment assistance (DPA) will be shut down in the United States.
By FHA's own estimates, DPA comprises nearly 40% of FHA's volume. This means more than 300,000 working class families will be locked out of homeownership in the next year alone. Communities across America will take the brunt of the $50 billion in lost real estate sales, not to mention the indirect impact on the other markets that will be forced to shed tens of thousands of jobs due to this legislation.
Please help to save Nehemiah. Here is how you can help:
Call your Congressional Representative, Senators, trade associations and community groups IMMEDIATELY to voice your support for down payment assistance and your opposition to this bill. Urge your legislators to oppose these provisions that would ravage your local economy by bringing the housing sector to a screeching halt.
Click here and enter your zip code to find your local Congressman.
Click here to send your Congressman an email.
No comments:
Post a Comment