Comments on: Nehemiah Program Explained http://www.locomusings.com/2008/05/02/nehemiah-program-explained/ All about life and real estate in Loudoun County... Fri, 10 Feb 2012 18:36:51 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ameridream and Nehemiah Programs May Be Eliminated « LoCo Real Estate Musings http://www.locomusings.com/2008/05/02/nehemiah-program-explained/comment-page-1/#comment-39 Ameridream and Nehemiah Programs May Be Eliminated « LoCo Real Estate Musings Sat, 16 Aug 2008 19:29:59 +0000 http://heatherelias.wordpress.com/?p=101#comment-39 [...] Nehemiah Program Explained (see first comment with an update from Scott Fournier, a lender, on the new bill in Congress) [...] [...] Nehemiah Program Explained (see first comment with an update from Scott Fournier, a lender, on the new bill in Congress) [...]

]]> By: slfourni http://www.locomusings.com/2008/05/02/nehemiah-program-explained/comment-page-1/#comment-40 slfourni Sat, 02 Aug 2008 19:57:23 +0000 http://heatherelias.wordpress.com/?p=101#comment-40 Hello Heather, I wanted to share the latest news with you about how Congress's new housing bill may affect downpayment assistance programs and what is being done to champion this concern. It can't be said better than Nehemiah themselves... take a peak and voice your concerns as well! Agents should be just as active in this fight as the lenders are becoming... Consider how much of your business is FHA financed, and then consider that 40% of FHA's loan volume is for Downpayment Assistance loans. Again, see below for the latest news. Support New Bill (H.R. 6694) to Reform and Save DPA! Take Action Now As we mentioned earlier this week, the President signed H.R. 3221, Housing and Economic Recovery Act of 2008, into law. The bill contains a provision (SEC. 2113) that forbids FHA from insuring mortgages in which the downpayment comes directly or indirectly from an interested third party (such as the seller), beginning October 1, 2008. As of this date, the minimum downpayment will be increased from 3% to 3.5%. We are pleased to announce that a new bill, The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694) was introduced by several members of Congress on Thursday, July 31, 2008. Representatives Maxine Waters, Gary Miller, Al Green and Christopher Shays sponsored this bill that if passed and signed into law will allow downpayment assistance to continue indefinitely. Scott Syphax, President and CEO of Nehemiah Corporation of America praised this group earlier today. “Maxine Waters, Gary Miller, Al Green and Christopher Shays have demonstrated the willingness to understand all sides of this issue and the courage and leadership to follow their conscience. All those who understand the importance of working class American’s having their shot at homeownership, need to work together to encourage our elected officials to pass this bill.” “There are dire consequences to America waking up on October 1st without downpayment assistance. In fact, 300,000 working class families will be locked out of homeownership in the next year alone.” In order to save downpayment assistance, we need to come together NOW to convince Congress to pass H.R. 6694 that allows downpayment assistance to continue. Two Ways To Take Immediate Action... Write Your Elected Officials Please take a minute to submit your comment regarding the urgent need to pass H.R. 6694 that allows for downpayment assistance to continue indefinitely. Submit your comments through our Legislative Alerts and Updates page. Call Your Elected Officials A phone call to your U.S. Senators and House Representative will make a huge impact to save private downpayment assistance programs. Locate your elected officials Should you have any questions, our Customer Service Department is available at 877-634-3642 from 9:00 a.m. - 8:00 p.m. EST to answer your questions. Nehemiah Corporation of America 424 N 7th Street, Suite 250 Sacramento, CA 95811 Toll Free: 1-877-634-3642 (877) NEHEMIAH getdownpayment.com Hello Heather,
I wanted to share the latest news with you about how Congress’s new housing bill may affect downpayment assistance programs and what is being done to champion this concern. It can’t be said better than Nehemiah themselves… take a peak and voice your concerns as well! Agents should be just as active in this fight as the lenders are becoming…

Consider how much of your business is FHA financed, and then consider that 40% of FHA’s loan volume is for Downpayment Assistance loans. Again, see below for the latest news.

Support New Bill (H.R. 6694) to Reform and Save DPA!

Take Action Now

As we mentioned earlier this week, the President signed H.R. 3221, Housing and Economic Recovery Act of 2008, into law. The bill contains a provision (SEC. 2113) that forbids FHA from insuring mortgages in which the downpayment comes directly or indirectly from an interested third party (such as the seller), beginning October 1, 2008. As of this date, the minimum downpayment will be increased from 3% to 3.5%.

We are pleased to announce that a new bill, The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694) was introduced by several members of Congress on Thursday, July 31, 2008. Representatives Maxine Waters, Gary Miller, Al Green and Christopher Shays sponsored this bill that if passed and signed into law will allow downpayment assistance to continue indefinitely.

Scott Syphax, President and CEO of Nehemiah Corporation of America praised this group earlier today.

“Maxine Waters, Gary Miller, Al Green and Christopher Shays have demonstrated the willingness to understand all sides of this issue and the courage and leadership to follow their conscience. All those who understand the importance of working class American’s having their shot at homeownership, need to work together to encourage our elected officials to pass this bill.”

“There are dire consequences to America waking up on October 1st without downpayment assistance. In fact, 300,000 working class families will be locked out of homeownership in the next year alone.”

In order to save downpayment assistance, we need to come together NOW to convince Congress to pass H.R. 6694 that allows downpayment assistance to continue.

Two Ways To Take Immediate Action…

Write Your Elected Officials
Please take a minute to submit your comment regarding the urgent need to pass H.R. 6694 that allows for downpayment assistance to continue indefinitely.

Submit your comments through our Legislative Alerts and Updates page.

Call Your Elected Officials
A phone call to your U.S. Senators and House Representative will make a huge impact to save private downpayment assistance programs.

Locate your elected officials

Should you have any questions, our Customer Service Department is available at 877-634-3642 from 9:00 a.m. – 8:00 p.m. EST to answer your questions.

Nehemiah Corporation of America
424 N 7th Street, Suite 250
Sacramento, CA 95811
Toll Free: 1-877-634-3642
(877) NEHEMIAH
getdownpayment.com

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