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Support HR 600

Today, I wrote a few letters to my elected officials asking them to support a new bi-partisan bill (FHA Seller-Financed Downpayment Reform Act of 2009 H.R. 600) that has been introduced by Congressman Al Green (D-TX) which would restore seller-funded downpayment assistance (DPA) indefinitely.

H.R. 600 is the 2009 version of last year’s bill H.R. 6694 that didn’t make it through Congress due to several major issues that we are all well aware of (think “bailouts”).

I urge you to use this automated service to make sure this one gets the attention it needs by also contacting your elected officials!

Here’s an excerpt from their website:

 Restore downpayment assistance programs for qualified homebuyers who need just a little bit of help to buy a home, stimulate the economy, stabilize home prices, and revitalize neighborhoods.

 

A report issued by the Congressional Budget Office (CBO) confirms that H.R. 600 would not cost the federal government or taxpayers any money. In fact, the Congressional Budget Office estimates that seller-financed DPA will generate $65 million over the next five years and save taxpayers $13 million next year.

 

In order to restore down payment assistance programs, we need to urge Congress to include H.R. 600 in the new stimulus bill. Reviving DPA under new standards will effectively balance the risk of potential foreclosures with the goal of increasing homeownership.

 

Act Now! Write your two Senators and House Representative and tell them that you support the new, bi-partisan bill H.R. 600 to restore and reform DPA!

Please consider writing your elected officials using this automated website to tell them that you need them to take action on this matter! Then, please email me to let me know who you wrote! Who knows? I might just have something of value for those that do!

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