2008-10-01housingwire.com

Nonprofit groups, including giants such as Sacramento-based Nehemiah Corp. of America, are now either out of business or looking to other lines of business while they continue to lobby Congress to reinstate the controversial FHA program. Efforts to pass a bill that would reinstate DPA stalled in a House committee, however, as concern over a historic financial bailout package pushed down payment program concerns to the back burner in the past few weeks.


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Comments:

SteveP at 18:39 2008-10-02 said:
Scott Syphax of the seller kick-back money laudering "Nehemiah" corporation claims "It ain’t over yet,” said Syphax. “Regardless of the outcome in the next 48 hours or so, we will continue to press forward on behalf of the interests of working-class families and the communities they reside in.."

If he really cared about working class families that can't afford a down payment, he would be pressing FNMA, FHLMC & FHA to make 100% LTV loans and working to keep home sale's prices low. Instead he is pressing for the DPA program because under the DPA charade, his so called "non-profit" is able to skim millions in unearned fees from working class families for laudering the kickbacks from the sellers of inflated priced properties. Permalink

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