This entry was posted on Tuesday, March 4th, 2008 at 4:21 pm and is filed under 100% Financing, Mortgage Programs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Nehemiah Program Survives Latest Challenge
The Nehemiah program has survived the most recent challenge by HUD, who has tried previously to shut the program down. Hud threatened again last Fall to ban the program which it accused of causing foreclosures and artificially inflated housing prices. The U.S. District Court disagreed yesterday, sticking by its previous temporary ruling that HUD failed to adequately prove its case or consider reasonable alternatives.
Nehemiah still faces an IRS challenge to its non-profit status, so get it while you can. It may survive, but who knows.
If you’re not familiar with the Nehemiah program, read my recent post entitled FHA + Nehemiah: A Path to 103% Financing. With the popular 100% loans disappearing rapidly, this is one of the few options left…..and it’s one of the best combos out there for consumers.
Call me or email me to find out why or for more information on FHA + Nehemiah.