Hats off to Paul Dunn, an FHA mortgage loan specialist located in Oro Valley Arizona, whose blog post, “Help Save Downpayment Assistance-Join La Resistance”, opened my eyes to the fact that with the signing of the Housing and Economic Recovery Act of 2008 also comes the official elimination of downpayment assistance.

Unless there is a swift response, downpayment assistance will go down the drain October 1st.

Enter “DPA Groundswell”, a campaign to stop the elimination of downpayment assistance. This campaign is supported by The Congressional Black Caucaus, The United States Hispanic Chamber of Commerce, The Mortgage Bankers Association, The National Association of Home Builders and many other organizations. They believe the home buying pool will dwindle even further if downpayment assistance is eliminated. (more…)