Thursday, November 13, 2008

The Fight for Down Payment Assistance is Not Over Yet

We received an eMail from NAR this morning. The post contained a pre-drafted letter for REALTORS® to print and send to their Congressional Representatives. While the letter is spot-on, we see an opportunity to add one more bullet point to the letter, that being to urge our Congressional Representatives, to support HR 6694 "FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008". To that point, we have included our version of the NAR letter in hopes that you have, our reader, have a vehicle to distribute our HyBrid letter to supporters of HR 6694. Download Our Version of the NAR Letter NOW!
(Microsoft Word 2003 Format - MacAfee & Norton Safe)

All the sender needs to do is locate their representative’s mail address, type in the name of their senator and congressman/congresswomen in the places indicated and enter the sender’s iformation at the bottom of the letter then send it off. CLICK HERE to locate your state House Representative and CLICK HERE to locate your US Senator and tell him or her that you want them
to support and vote for
H.R. 6694

We are also in the process of posting version of the NAR letter on our all of our BLOGs and on all of our personal web sites.

* Down Payment Assistance Rescue H.R. 6694
* Part 2 - Down Payment Assistance Rescue H.R. 6694
* Congress Stabs FHA Buyers Through The Heart
* Congress has stabbed the FHA buyer through the heart. The little guy pays the
price again

* Down Payment Assistance Rescue H.R. 6695

We have also contacted three local TV News Outlets with our efforts.

We continue to try and push HR 6694 to the floor of the House and Senate.

Oh yes... one more quick side bar for our VA Home Owners; many Vets man not know that the VA has been authorized by the passing of the "Veterans’ Benefits Improvement Act of 2008" to offer refinancing of their sub-prime mortgages at a 100% Loan To Value (LTV). Prior to the signing of this bill into law by President Bush on October 10th 2008, the maximum loan amount allowed was only 90% LTV. If you are a Veteran with an available VA Loan Entitlement, you should contact your mortgage company and look into a VA Refinance of your current mortgage.

For more information about this new law, visit Re-Finance Program for Vets.

Lori & G-II are licensed REALTORS® with Coldwell Banker Residential Brokerage, specializing in VA Buyer Representation. They can be reached by cell phone at either 602.574.5674 for Lori or 602.796.5674 for G-II or via eMail at

Short Sale Experts, Certified Negotiation Experts, ePRO 500 Certified
Mentors and Trainers for Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage.

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