Wednesday, February 4, 2009

How to Save Housing in the USA without spending any taxpayer $$$

I promise that you will never get
a BLOG from me about politics.............

This blog will start to sound a little like politics,
but it is not! It is about saving our homes, neighborhoods
and our country. And you can help.......

Please read this and decide for yourself.

You see, there is a bill in Congress right now -- HR600.
It is very important to YOU and ME and YOUR KIDS and
YOUR NEIGHBORS.

HR600 is the bill that will decide whether or not Down
Payment Assistance (DPA) should be allowed again.
(It was killed in October 2008 by Congress and HUD).


CALL ON CONGRESS TODAY -- (send your local,
state, and federal politicians an email--takes 4 minutes at most)

What is Down Payment Assistance you ask?? It is
where the SELLER can contribute $$ to the BUYER
of their home so that they can buy their first home.

IT DOES NOT COST ONE PENNY OF
TAXPAYER MONEY!! NONE. ZERO.
ZILCH. NADA.
(did you catch that?) It does not
cost you or me anything!! :-)

Why is it so important? Check out these facts
quoted from this website: http://www.ameridream.org

Over the past 10 years charitable down payment
assistance funded in part by home sellers have:


* Helped over one million people become homeowners.
* Given over $4 billion in cash for down payment assistance.
* Spurred $11 billion of direct spending with $24 billion of net economic impact.
* Never used government money or taxpayer dollars.


You see, most first time homebuyers do NOT
have$$ tens of thousands of dollars $$ to buy
their first home (who does nowadays--right?)

This program allows the SELLER to contribute
the down payment to the BUYER.

Now, this program was abused in the past because
LENDERS did not uphold their end of the bargain
and started letting EVERYONE get a loan--even
if they had terrible credit. That does not help anyone
and is, in fact, a detriment to everyone. That practice
MUST STOP.

HR600 is not asking for FHA to decrease their
lending restrictions........but rather, it is asking
them to make the restrictions tougher!! But at
the same time, allow QUALIFIED BUYERS to
use the DPA program to buy a home.

Why should you care??????????????

Because our country will not recover until HOUSING
recovers.

Forget WALL ST. Think MAIN ST.

We have to help the common American from the
Grass Roots level and get the first time home
buyers into the market.

Like it or not, 70% of Americans wealth are tied
up in their personal residences. We have to STOP
the decline in home prices and stem the tide of
foreclosures.

EMAIL CONGRESS A SHORT EMAIL -- (type one
email and it will automatically go to all of your
Congressmen & women)

Until first time home buyers start buying again,
no one else can sell their home and move up to a
larger home. It is an ugly Domino Effect.

Think about it. If the low-priced homes cannot be
sold, how can the upper-end homes sell? We have
to get the low end inventory sold (first time
homebuyers)--so those sellers can move up the
chain and buy larger homes and so on and so on.
Make sense?

Foreclosures are caused (quite often) because
the SELLER cannot SELL--even if they want
to (unless it is by a Short Sale). We must stop
foreclosures--now.

Congress is set to vote on this on February 9th, 2009.
If you think this is important--you must act right
now (it will take about 4 minutes of your time). I did
it in less time.

Click the link below:

I CARE ABOUT MY HOUSE AND WANT TO STOP ITS DECLINE IN VALUE
-- (take 4 minutes to let congress know we don't want
to spend anymore taxpayer $$)

This program can be a BIG start to fixing
the HOUSING CRISIS and it DOESN'T COST
A PENNY!!

Have a great day!!

2 comments:

CoffeeGirl said...

ACT NOW!!! Please go to this link http://capwiz.com/nehemia/issues/alert/?alertid=11709431 and write a letter to your congressman supporting H.R. 600. This will only take a few minutes!!!!!! You can restore DPA!!! Please take it seriously!
The FHA Seller-Financed Downpayment Reform Act of 2009 (H.R. 600), a bi-partisan bill introduced by Congressmen Al (D-TX) would restore seller-funded downpayment assistance (DPA) indefinitely. H.R. 600 is the 2009 version of last year's bill H.R. 6694.

A report issued by the Congressional Budget Office (CBO) confirms that H.R. 600 would not cost the federal government or taxpayers any money. In fact, the Congressional Budget Office estimates that seller-financed DPA will generate $65 million over the next five years and save taxpayers $13 million next year.

Reinstating DPA could help ensure continued liquidity in the stagnating housing market by providing aid to an estimated 600,000 working-class people for home purchases next year, generating $150 billion in home sales.

In order to restore downpayment assistance programs, we need to urge Congress to include H.R. 600 in the new stimulus bill. Reviving DPA under new standards will effectively balance the risk of potential foreclosures with the goal of increasing homeownership.

workingmom4DPA said...

I sent a letter to my elected officicals at www.dpagroundswell.org! If you want to join the effort to bring DPA back to the American homebuyer, you can go there as well and send an email to your elected officials. The time to act is NOW!