NEW! CONFIRMED: Seller-Funded Downpayment Assistance Generates Homeownership at No Cost to U.S. Government or Taxpayers

Washington D.C. - October 1, 2008 - According to Nehemiah Corporation of America, a report issued by the Congressional Budget Office (CBO) this week confirms that The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694) would not cost the federal government any money for the next five years. This is due largely to the self-funding mechanism that sets premiums based on an individual's credit scores. more »

Justice Demands Action

On July 30th, 2008, President Bush signed the Housing and Economic Recovery Act of 2008 into law.

This massive bill included the elimination of downpayment assistance (DPA) for qualified Americans who need just a little bit of help to buy a home. The language used to do away with DPA has been previously rejected in two federal courts.

On September 16, 2008, H.R. 6694 Passes House Financial Services Committee

The FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694) passed the House Financial Services Committee today on a voice vote amidst strong bipartisan support and is expected to move to the floor for a full vote in the coming days. more »

On October 1st, DPA was eliminated.

As a result, 50,000 hard-working, credit-worthy families will be denied the American dream of homeownership in that month alone. The loss would further injure an ailing economy and fatally injure an already crippled housing market—a housing market in which 40% of all current Federal Housing Authority (FHA) loans depend on DPA.

A new law, H.R. 6694, has been proposed to fix the error and save DPA. To pass it, we need a groundswell of public support.

The time is now. Please act.