If so, you were a victim of a now-illegal practice ("SFDPA") that has been recognized as a threat to homebuyers and taxpayers by the FBI, IRS, GAO, HUD, the Congressional Research Service, and many other authorities.
The latest data shows that the scheme is responsible for a disproportionate amount of the FHA's insurance fund losses. Many people have been harmed—and the SFDPA administrators have gotten away with the ill-gotten profits.
Want to do something about it?
The Implode-o-Meter needs to hear from you.
The voices who fell prey to this no-money-down scheme must be heard.
ML-Implode has been campaigning to raise awareness of this practice and the cronyist attempts to open new loopholes to bring it back (see HR600 materials at left, right, and our Campaign Page).
To help others avoid foreclosure or financial loss from the scheme, we need to hear from some of the THOUSANDS of cases where real people were harmed by SFDPA—just so the SFDPA administrators like Grant America and its partners could make a few hundred bucks per sale!
If you or somebody you know had an FHA-insured loan with seller-funded downpayment assistance and has gone into or is facing foreclosure, please contact us at the following email address:
Together we can do much more to hold the criminals responsible for a great portion of the housing bubble misery responsible.
A final note—besides the Grant America Program, other major SFDPA administrators include Ameridream and Nehemiah. Do not hesitate to get in touch with us if these companies were involved in your loan.
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