Downpayment Assistance Reform: Groundswell2 - Nehemiah Corporation of America
February 11, 2009 by admin
Congressional Budget Office (CBO) stated that H.R. 600 is equal to H.R. 6694 as it relates to seller-funded DPA and requires no changes to last year’s estimate.
- H.R. 600 strengthens DPA with the following reforms:
- Improved Loan Performance: borrowers FICO score must be above 620 to qualify for DPA
- Protection Against Appraisal Inflation: bill includes stiff penalties for appraisal abuse
- Homeownership Education: increases opportunity for sustainable homeownership and overall long term financial success
- Regulation for DPA Providers: ensures responsible standards for DPA processing and education
- Reformed DPA Costs Nothing: mortgage insurance premiums are set to ensure that DPA pays for itself. NO COST TO TAXPAYERS!
Report Finds DPA Created Big Economic Benefits
- $38.6 billion in economic output
- $4.6 billion in property tax revenues
- $150 billion in homes sales
- 235,000 jobs!
Get Involved! Join the DPA Reform Movement
Your Senators and Congress member need to hear from you and your associates about the importance of DPA in your area. Tell them to pass H.R. 600 or attach it to an upcoming housing bill.
Your Senators and Congress member need to hear from you and your associates about the importance of DPA in your area. Tell them to pass H.R. 600 or attach it to an upcoming housing bill.
Top 5 Ways to Make Your Voice Heard
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Write a letter to your elected officials in support of H.R. 600
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Activate network of friends/associates (spread the word)
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Organize and facilitate a rally in your community
For more information please contact!
James Hillman
Office: 916.231.5266
Toll Free: 866.635.8171
jhillman@nehemiahcorp.org
info@dpagroundswell.org
Toll Free: 866.635.8171
jhillman@nehemiahcorp.org
info@dpagroundswell.org
Greg Saunders
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