Mayor Ron Dellums of Oakland Champions Seller Funded Downpayment Assistance as Only Reliable Alternative for Aspiring Homeowners
OAKLAND, Calif., June 26 /PRNewswire-USNewswire/ — The following
remarks were made by Mayor Ron Dellums, City of Oakland, in response to the
Administration’s efforts to end seller funded downpayment assistance. He is
current Chair of the U.S. Conference of Mayors Housing and Community
Development Committee and former member of the U.S. House of
Representatives.
“To date, seller funded down payment assistance programs have enabled
more than a million families to become homeowners without taking a single
dollar of tax payer assistance from the U.S. government. I am opposed to
the Administration’s resubmission of its rule banning these programs and
interfering in a free market process that has proven to be the only
reliable alternative to the low - moderate income families seeking
homeownership during this period when conventional loans are simply not
available or affordable.”
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[Via Real Estate Newswire]