A signature Sacramento program that has helped almost 300,000 lower-income people nationally buy homes in the past decade - while stirring controversy for years - is likely to be shut down this week, Nehemiah Corp. of America officials acknowledged Monday.
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Nehemiah is very solid in terms of everything else, and we have prepared for this day over the past two years," he said.
The firm has steadily remade itself into an urban developer, with an eye on building nearly 3,000 residential units just north of downtown Sacramento. Recently, it received $19 million in state housing bond funds for its 65-acre development, called Township 9.
I have heard that they were planning on doing away with the Nehemiah program for a while now. I really hope they dont. It has helped so many families. Thanks, Keith
why NOW? is my question
Keith:
Sorry to hear that this program is on the endanger species list. I haven't used it but the numbers speak for it self.
My guess is that this buyer is one that is now having problems with little equity in the home. It is very sad but I do understand
This would be very bad! Many clients that contact us are looking for some type of down payment assistance. This would prevent many potential buyers from being able to purchase right now when its finally affordable!
Tony: Our government need to ensure that all americans with good credit can continue to buy homes
how will all this play out
Steve: I want to answer your question "why now"? If the govt doesn't have control over something, they want it. I believe that's why now. They have been trying and unsuccessful for some time now and used this hole to close the loophole. There will be lawsuits to challenge the law from the nonprofits. The outcome remains to be seen.
With All the bank failures and financials in turmoil, you would think that these programs would thrive.
help and rally for the cause