Here is the latest information received regarding the Down Payment Assistance Programs and the soon to be lost program if nothing is changed:
While our government is bailing out Wall Street, DPA and H.R. 6694 is looking out for Main Street.
The plan being negotiated calls for the government to spend up to $700 billion to bailout Wall Street. Add in the $300 billion from the “Housing Bill” (H.R 3221) passed in July and this bailout is costing taxpayers $1 TRILLION! The single largest part of this tragedy is that this $1 trillion is being spent bailout Wall Street, banks, institutional investors and foreign investors!
And while all this is going on in Washington, D.C., who’s looking out for the American Taxpayer? Who’s focusing on working class Americans?
The growing list of sponsors for H.R. 6694 are! As you know HUD has tried to paint a picture of DPA as part of the problem. However, today more and more people are realizing that DPA and H.R. 6694 is instead, a part of the solution. A $150 billion annual boon to our economy that does not require taxpayer subsidy! (more…)