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Finally there is a real opportunity for First Time Buyer's to purchase an affordable home, with an attractive interest rate, with the seller contributing to closing cost and/or down payment and the Government changes the rules.

Nehemiah, Ameridream and other approved non profit organizations open the door to home ownership to buyer's as well as creating an opportunity for sellers to participate in marketing their home.

October 1, 2008 Nehemiah, Ameridream and other non profits will no longer be allowed to contribute as a gift to a buyer when the funds are from the seller. How many buyers will this remove from the market place? How many buyers will have to go back to renting? Home buyer's you have until October 1, 2008 to purchase and close on a home to benefit from Nehemiah or Ameridream where the seller can participate and donate to a non profit and then you would apply this to your down payment and or closing cost. .

We are in a different place and time from when our parents purchased a home. From my point of view, home buyer's are not on the 5 or 10 year plan to save and purchase a home. They just wake up one day and the home shopping begins. These programs work well for buyer's that are qualified to purchase a home. Also we can put you in contact with your local government officials to voice your opinion.

Yes there are buyers that fall into default, for many reasons and we are all dealing with foreclosure market more so here in Florida.

As a local mortgage professional I utilize these programs to help qualified home buyers purchase a home, as well as show sellers/Realtors to utilize these programs to market their homes to more potential buyers.

Since we are getting back to basics where buyers have to qualify for a home loan, I do feel that keeping these programs benefits buyer's and sellers.

Contact me today and take advantage of the down payment assistance program, Doreen@fmsloans.com