NEHEMIAH HOME BUYER ASSISTANCE ENDING SOON! 8/1/2008
According to Nehemiah Corp. of America H.R. 3221, Housing & Economic Recovery Act, forbids the FHA from insuring mortgages in which the borrower’s down payment comes from a private down payment provider. As Of October 1st, 2008 the minimum down Payment will be 3.5%. The consequences will be devastating! FHA’s own estimates state that 40% of their volume comes from down payment assistance programs.
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