While our government is bailing out Wall Street, DPA and H.R. 6694 is looking out for Main Street.
The plan being negotiated by the Bush administration and Congressional leaders calls for the government to spend up to $700 billion to bailout Wall Street. Add in the $300 billion from the "Housing Bill" (H.R 3221) passed in July and this bailout is costing taxpayers $1 TRILLION!
The single largest part of this tragedy is that this $1 trillion is being spent bailout Wall Street, banks, institutional investors and foreign investors!
And while all this is going on in Washington, D.C., who's looking out for the American Taxpayer? Who's focusing on working class Americans?
The growing list of sponsors for H.R. 6694 are! As you know HUD has tried to paint a picture of DPA as part of the problem, and while yes, there have been a few issues, it really has helped. More and more people are realizing that DPA and H.R. 6694 is not the problem, rather, a part of the solution. It is a $150 billion annual boon to our economy that does not require taxpayer subsidy!
Main Street America needs H.R. 6694 as part of the solution to help working class American families become homeowners! Why should these families who are neither rich nor reckless be denied homeownership when it will cost taxpayers nothing?
H.R. 6694 Provides Downpayment Assistance with these benefits: Zero tax dollars are used to fund downpayment assistance (DPA) programs Real estate purchases stimulate the economy and generate tax revenue DPA programs help thousands of families each month realize the dream of homeownership Homes purchased with DPA drive wealth creation
The time is now. Please act. Support H.R. 6694! Bring ZERO DOWN FIRST TIME HOMEBUYERS BACK into the housing game!
Contact your Senators and House Representative and tell them H.R. 6694 should be included as part of the Wall Street bailout plan! Send a Letter in Support of H.R. 6694 and DPA.
Visit http://capwiz.com/nehemia/issues/alert/?alertid=11709431
I currently work for a well-know DPA and I am 90% sure that we will be around after Oct.1. It is imparative that everyone in the real estate industry, yes I mean everyone. All loan officers, title officers, appraisers, home inspector, branch managers, processors etc. pick up the phone today and call your Senator's D.C. office. Tell your Senator's aid of housing that you want them to introduce HR 6694 to the Senate today! If the bill is not passed, then 50,000 DPA untis per month will be gone. That in it self self will hurt everyone.