RISMEDIA, January 20, 2009-On Friday, U.S. Representative Al Green introduced a bill, H.R. 600, that would reinstate downpayment assistance (DPA).
The following statement was issued by Scott Syphax, president and CEO of the Nehemiah Corporation of America in response to H.R. 600. Prior to the October 1, 2008 ban on DPA, Nehemiah was the oldest and largest provider of downpayment assistance.
“With foreclosures on the rise and banks maintaining their stranglehold on credit, we commend Congressman Al Green for recognizing the important role downpayment assistance can play in the market’s recovery. Through H.R. 600, DPA offers a simple solution that can empower thousands of worthy families to take advantage of depressed home prices therefore reducing the glut of homes on the market. Further, it does so without spending a single government or taxpayer dime according to the Congressional Budget Office. Creating opportunities for sustainable homeownership will be a cornerstone to strengthening a crumbling housing market and breathing life back into the economy. As the Obama Administration takes the reins tomorrow, we call on Congress to reach across the aisle and prioritize broadening opportunities for responsible homeownership in America by reinstating DPA.”
For more information, visit http://www.getdownpayment.com/.
Copyright© 2013 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com