DPA programs assist working-class Americans who can afford monthly mortgage payments but need help with the initial downpayment on their homes. Since 1997, downpayment assistance has helped more than one million families realize the dream of homeownership. Act now to restore a vital program that brought the American dream into reach for tens of thousands of families each month.

The language used to do away with DPA has been previously rejected in two federal courts. The CBO confirmed that seller funded DPA provides a needed public service at no cost to tax-payers. The current market needs more ways to create affordable and responsible homeownership.

A new bill, H.R. 600, has been introduced to meet this need and restore reformed DPA. To pass it, we need a groundswell of public support.

H.R. 600, http://www.dpagroundswell.org/news/HR_600.pdf, FHA Seller-Financed Downpayment Reform Act of 2009, a bi-partisan bill sponsored by U.S. Rep. Al Green (TX-09), would reinstate seller-funded downpayment assistance (DPA). Currently, two members of the House have signed-on to cosponsor the bill.

Cosponsors:
Rep. Miller, Gary G. (CA-42) - 1/16/2009
Rep. Waters, Maxine (CA-35) - 1/16/2009


The time is now. Please act.

http://www.dpagroundswell.org