Comments on: Doing away with down payment assistance http://www.portlandmortgagebroker.net/doing-away-with-down-payment-assistance.html Greg Downey, Portland Mortgage Broker and Home Loan Professional Fri, 12 Mar 2010 02:43:28 +0000 http://wordpress.org/?v=2.6 By: marie http://www.portlandmortgagebroker.net/doing-away-with-down-payment-assistance.html#comment-576 marie Tue, 16 Sep 2008 16:40:54 +0000 http://www.portlandmortgagebroker.net/doing-away-with-down-payment-assistance.html#comment-576 Great news for DPA! According to a recent article by: Matt Carter, Inman News, September 10, 2008: “HR 6694 … is certain to pass the House of Representatives and has the blessing of the Department of Housing and Urban Development, Rep. Barney Frank, D-Mass., said at a hearing on foreclosures this weekend. The influential chairman of the House Financial Services Committee urged those attending a committee field hearing in Stockton Saturday to lobby the Senate -- which shoehorned language banning seller-funded gifts into HR 3221, the sweeping housing bill signed into law July 30 -- in support of the bill. Frank said the bill that would give seller-funded gifts a reprieve, HR 6694, has the support of HUD Secretary Steve Preston because it also addresses an issue near and dear to the department's heart -- risk-based pricing. HR 6694 … will pass the House, I can guarantee you. What you want to do now obviously is talk to your senators. We think it will go through there -- it has the approval now of the Secretary of HUD.” We’re making progress here. Don’t give up. Let’s do what Rep. Barney Frank suggested … Contact your Senators TODAY! Great news for DPA!

According to a recent article by: Matt Carter, Inman News, September 10, 2008:

“HR 6694 … is certain to pass the House of Representatives and has the blessing of the Department of Housing and Urban Development, Rep. Barney Frank, D-Mass., said at a hearing on foreclosures this weekend. The influential chairman of the House Financial Services Committee urged those attending a committee field hearing in Stockton Saturday to lobby the Senate — which shoehorned language banning seller-funded gifts into HR 3221, the sweeping housing bill signed into law July 30 — in support of the bill. Frank said the bill that would give seller-funded gifts a reprieve, HR 6694, has the support of HUD Secretary Steve Preston because it also addresses an issue near and dear to the department’s heart — risk-based pricing. HR 6694 … will pass the House, I can guarantee you. What you want to do now obviously is talk to your senators. We think it will go through there — it has the approval now of the Secretary of HUD.”

We’re making progress here. Don’t give up. Let’s do what Rep. Barney Frank suggested … Contact your Senators TODAY!

]]> By: marie http://www.portlandmortgagebroker.net/doing-away-with-down-payment-assistance.html#comment-392 marie Thu, 28 Aug 2008 18:28:11 +0000 http://www.portlandmortgagebroker.net/doing-away-with-down-payment-assistance.html#comment-392 As a single mom with a great job but no fat savings account, I am a firm supporter of downpayment assistance. Don’t believe everything you read … it is NOT too late to get your downpayment assistance! I've been reading up on this issue and have found some great information from Nehemiah's website. Members of Congress recently introduced The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694). If passed and signed into law, this will allow downpayment assistance to continue INDEFINITELY. These programs need our help to get the word out. Visit www.DPAGroundSwell.org, a web-based community established to mobilize the growing industry opposition to the October 1 ban on seller-funded downpayment assistance. As a single mom with a great job but no fat savings account, I am a firm supporter of downpayment assistance. Don’t believe everything you read … it is NOT too late to get your downpayment assistance! I’ve been reading up on this issue and have found some great information from Nehemiah’s website. Members of Congress recently introduced The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694). If passed and signed into law, this will allow downpayment assistance to continue INDEFINITELY. These programs need our help to get the word out. Visit http://www.DPAGroundSwell.org, a web-based community established to mobilize the growing industry opposition to the October 1 ban on seller-funded downpayment assistance.

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