As a result of the current economic crisis, a huge inventory of unsold houses has devastated the housing market. However, the downpayment requirement shuts qualified Americans out of homeownership. If these borrowers were enabled to purchase homes, it would provide a significant boost to the housing market as well as the entire U.S. economy.
Through H.R. 600, reformed downpayment assistance (DPA) can play an important role in the market's recovery and create sustainable homeownership opportunities for hundreds of thousands of credit-worthy borrowers.
Take action today! Write or call your elected officials and voice your support for DPA reform and H.R. 600.
I took action and sent a letter to my elected officials because I support HR 600. If you want to join the effort to bring DPA back to the American homebuyer, send an email to your elected officials. The time to act is NOW!
Posted by: workingmom08 | 05 February 2009 at 11:24 AM
I think this would be a big boost to the housing industry. Especially allowing people that have a job to buy homes that are sitting empty. The govt should use this as part of the economic stimulus.
Posted by: stevew | 05 February 2009 at 11:30 AM
It seems impossible to beleive that this bill (HR 600) is not being considered by congress to jump start the housing market. If our representatives would take a drive through our neighborhoods, it would become instantly obvious that some tool is needed to generate sale. HR 600 should come instantly to their minds. I will definitely be calling and writing my congressman.
Posted by: JanetS | 05 February 2009 at 02:05 PM
To help pay the bills I used to do loans and sell houses. Without DPA, so many people simply don't qualify. Speaking personally, I know restoring these programs will help me increase my income once again. I hope HR 600 passes and I am telling all my friends.
Posted by: Peggy Sue | 06 February 2009 at 10:02 AM
HR 600 is a nooooo brainer! Our economy needs this program. It not only will help jump start the housing market but will also help put people back to work. I've contacted my elected officials and I strongly encourage everyone else to do the same!
Posted by: L Green | 09 February 2009 at 06:04 AM
More than 15,000 pair of hands are required to build one home ___ from those who mine the raw materials for wood, plastic, steel etc., to those who refine these raw materials into building products, to those who assemble these materials in factories and on the jobsite to create the finished product __ this is job and economic stimulus. It is the downturn in the housing industry which negatively impacts the economy;breathing life into the housing industry will yield a turnaround. H.R.600, to restore downpayment assistance through programs like Nehemiah and Ameridream is the best stimulus package.
Posted by: Thomas C. White | 22 February 2009 at 12:38 PM