Housing Bill an immediate threat to down payment assistance ( DPA) programs.
The Senate and House of Representatives are fast tracking this bill, and is in danger of shutting it down. Today DPA comprises nearly 40% of all FHA’s loan volume, and will be a huge loss if passed.
So you must act now with any of your potential buyers who have be pre-approved to use the Nehemiah DPA program. I would hate to have a family miss out on their dream home because of procrastination on their part, or congressional action. I do not have any more information than what I have told you at this time, but this program could disappear tomorrow, next month, or hopefully never. What we do know though is that it’s under attack, and is in danger of being closed.