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Nehemiah and Ameridream Down Payment Assistance.. a reprieve?


According to Inman News today, HR 6694, a bill in Congress right now that would craft a compromise to allow down payment assistance programs to continue, seems to be gaining momentum.  It looks like they are considering FICO score guidelines in the compromise; the bill was presented after Congress passed HR 3221 on July 30, effectively … [Read more...]

Ameridream and Nehemiah Programs May Be Eliminated


Seller funded down payment assistance programs are set to be eliminated by this fall, unless Congress approves the FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694).  The Department of Housing and Urban Development apparently would rather eliminate these programs entirely than regulate them.  … [Read more...]

Guest author: Scott Fournier on the Nehemiah Down Payment Assistance Program


Scott Fournier, of Integrity Home Mortgage, writes: As many of you may know, The Nehemiah Program, through court litigation won the ability to remain a viable approved source for downpayment assistance when buyers are using FHA loan programs.  Nehemiah is a program by which a seller makes a contribution to a non-profit organization, then … [Read more...]