Comments on: Down Payment Assistance Getting CPR

By: Lawerence Draney

Lawerence Draney — Fri, 29 Oct 2010 12:38:34 +0000

While I recognize your position I can’t in reality accept as true with what you have said right here.

By: mack

mack — Thu, 18 Sep 2008 12:37:16 +0000

@ Harry Thanks for stopping by. I must however disagree with you about Nehemiah. Properly utilized, I think seller funded downpayment assistance is a valuable option for some buyer’s. Like every program it’s not for everyone.

I fail to see how you can make the statement that the industry has a poor public image for ethics when in reality this program helps approximately 300,000 buyers annually. Personally I have been using the Nehemiah Program for over 9 years for some of my buyers and have yet to have an adverse effect from it. I will agree with you that in essence it is a 100% financing program, however the buyer only has to repay 97% of it and that will soon be changing to 96.5% with the new 3.5% minimum downpayment on FHA Loans.

By: Harry

Harry — Wed, 17 Sep 2008 03:27:34 +0000

Nehemiah is nonsense, This industry never fails to live down to its poor public image for ethics.

There is no gift. It’s just 100% financing, It’s time for the industry to straighten up its act.

By: anon

anon — Thu, 11 Sep 2008 20:51:20 +0000

You’re right that the ball will be in the Senate’s court. We the people need to contact our senators and tell them “vote for HR 6694!” If enough of us write, call, and e-mail, they will listen. This is a helpful website: http://www.supporthomeownership.com

By: Cleve Gaddis

Cleve Gaddis — Thu, 11 Sep 2008 15:43:04 +0000

Mack,
Your comments are right on. Down payment assistance has played a very important role in increasing home ownership in the U.S. and, as long as home values are increasing, which will happen again, there’s not much risk to the FHA as everyone thinks there is.