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Colorado, Home Buyer in Colorado City, TX

need a broker in colorado city texas who handles nehemiah programs

Asked by Colorado, Colorado City, TX Wed May 13, 2009

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The program Vicky referenced was rescinded by HUD 24 hours after they issued the Mortgagee Letter.
Rumor has it, they are just re-working the program.
0 votes Thank Flag Link Fri May 15, 2009
Actually, after I answered this, I saw a Mortgagee letter from HUD dated 5/11 in which it seems that state and local governments and qualified non profits will be permitted to "loan" first time home buyers their expected tax credit, up to the amount of their down payment + closing costs for the home. There's a fee, of course, but I suspect this is the next role for Nehemiah. The letter didn't say Nehemiah - but it makes sense they will fill this bill since they're fundraising services were knocked out of existenace last fall.

"Colorado" - is this what you were referring to? I've not seen much press on this and even the Nehemiah site didn't have information on it yet. So, if you're looking for someone that knows the ins and outs of THIS you won't find them, it's never existed before.
0 votes Thank Flag Link Thu May 14, 2009
FHA does not allow the Nehemiah program an longer.
There is something in the works for First Time Home Buyers though.
0 votes Thank Flag Link Thu May 14, 2009
Forgive my ignorance, but are they still in existence? Nehemiah and others like them used to the conduit through which you would funnell seller paid down payment assistance for FHA loans. But, you can no longer use this for an FHA loan, so I've haven't a clue what they do outside of that.

Did you think you could still use them this way, or do you have another purpose? The breaking news back in July (ish) was all about this - and the program ended 9/30 - what a terrible day for settlement companies, so many people trying to meet the deadline.

It's gonna be the same way again soon with the Nov 30 deadline for the $8000 tax credit.
0 votes Thank Flag Link Thu May 14, 2009
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