Comments on: Bush Administration Wants to Eliminate Downpayment Assistance Programs

By: Traveller_Adventure

Traveller_Adventure — Wed, 08 Jul 2009 09:04:35 +0000

Very very interesting post..I like this one. gotta bookmark this one.

Cheers,
backyard gardening

By: Wade

Wade — Fri, 28 Nov 2008 20:17:44 +0000

Seller financing is also a solution for some homeowners. Buyers can request that a reputable note servicing company be used to facilitate the process professionally.

By: Wade

Wade — Fri, 28 Nov 2008 17:17:44 +0000

Seller financing is also a solution for some homeowners. Buyers can request that a reputable note servicing company be used to facilitate the process professionally.

By: Robert

Robert — Sat, 20 Sep 2008 05:35:24 +0000

DOWNPAYMENT ASSISTANCE PROGRAMS are a SCAM! They simply raise the price of houses. I guess you'd rather have a HANDOUT than AFFORDABLE HOUSING.

By: Daltonsbriefs

Daltonsbriefs — Fri, 15 Aug 2008 10:28:30 +0000

Down Payment Assistance isn't a race issue it's a tool to help middle income homebuyers who haven't been able to save 3-5% of a home's price. They can't save enough because local and state governments keep increasing taxes, and gasoline is $4.00, and interest rates are being held high to help banks.

We need four things to release this economy to create jobs and opportunity:
Oil Drilling to increase supply now! http://dontgomovement.com a predicted increase in supply today will drop gas prices immediately to $3.00

Governments at all levels need to cut budgets, not just moderate their increase, but actually cut their budgets.

The credit markets need to be freed of all this "help" and manipulation by the Fed and agencies, let rates float freely again. This could drive mortgages back down to 5%.

And lastly, I agree with commenter above, bring back the seller downpayment assistance program. What's so wrong with a willing seller and willing buyer agreeing to help each other out? There's no government cash involved, and if FHA wants to price the loan a little higher like a smoker pays more for health insurance, fine. But to ban a program that benefits millions because of politics is foolish.

By: CB

CB — Thu, 14 Aug 2008 10:12:21 +0000

There is a great new site with lots of tools and people working hard to Save DPA. Check it out at: http://www.dpagroundswell.org/help/50days.cfm

By: Anonymous

Anonymous — Sat, 17 Nov 2007 21:26:00 +0000

FHA Reform will kill minority homeownership!

1. Senator Dodd's staffers are the ones who required the language killing privately funded downpayment assistance programs.

2. Secretary Jackson and the White House have been pushing to eliminate privately funded downpayment assistance.

3. Minority homebuyer's are vastly more affected by the elimination of downpayment programs their limousine liberal counter-parts.

4. The GAO study Sen Dodd relies on was severely flawed. A Federal judge recognized that last week and enjoined HUD from enforcing a rule banning privately funded downpayment programs.

5. Senator Dodd used the same HUD language banning downpayment programs in his FHA Reform Bill. His top staffer on housing issues thinks we subsidize housing enough in this country and doesn't believe we should have privately funded downpayment programs.

It is obvious to anyone who looks at the whole picture, that Sen. Dodd is in bed with the White House and he doesn't give a damn about the people who are being hurt by his reckless and irresponsible actions.

The FHA Reform Bill exists only to serve his political ego, while taking home-ownership opportunities away from tens of thousands minority homebuyer's.

Where is Kanye West when you need him? It is obvious that, "Chris Dodd doesn't care about black people!"

By: 1st time home buyers

1st time home buyers — Wed, 31 Oct 2007 03:50:00 +0000

they should end it…ppl should use their own money…and stop using assistance to buy a home. this is one of the reasons why we have soooo many foreclosures