Sacramento, CA, January 16, 2009 — The following statement was issued today by Scott Syphax, president and CEO of the Nehemiah Corporation of America in response to H.R. 600, a bill introduced in Congress that would reinstate seller-funded down payment assistance (DPA). Prior to the October 1, 2008 ban on DPA, Nehemiah was the oldest [...]
|
||||||
|
House Bill 6694 was introduced in legislation to restore the Down Payment Assistance (DPA) programs. Unlike HB 3221, this on is still being debated and has not become law as of yet. Some many people were upset with the elimination of DPA in HB 3221 that some lawmakers sponsored a bill to restore, the product [...] Yesterday I reported on the summary of the HB, which included: Seller-funded down payment assistance programs – codifies existing FHA proposal to prohibit the use of down payment assistance programs funded by those who have a financial interest in the sale; does not prohibit other assistance programs provided by nonprofits funded by other sources, churches, employers, [...] The National Association of REALTORS® has provided us the a summary of this big Housing and Economic Recovery Act, which I am sharing with you here. I will be digging into each of this elements over time and commenting on them as I learn the pros and cons of each. H.R. 3221, the “Housing and Economic Recovery [...] Sometime ago I reported on the move by HUD to do away with the Down-Payment Assistant program (DPA). Today, Arizona Republic has finally written a story on the matter. I in no way disagree that loans that use this assistance is at higher risk and can logically make that assumption without any data. However, I [...] |
 . |
|||||
|
Copyright © 2012 Blog of Craig's Arizona - All Rights Reserved Optimized by SEO Ultimate 
|
||||||
Recent Comments