Biblical Teachings And The Future Of Down Payment Assistance Programs

When people ask me questions, like the ones that follow regarding down payment assistance programs, I often have to defer to the Bible, and what God teaches us therein.

I have yet to find a question which is not answered from scripture. I am not referring to specifics like ‘Will McCain’s patriotic honesty’ win, over Obama’s ‘history of poor judgment’ or ‘whose music do you think will have a longer, more socially permeating effect on society, U2 or Green Day?’ I am speaking general, like ‘is it OK to steal from the government, because they can afford it.’

This morning I received a couple of questions(shown below) that should be able to be handled by scripture and are probably on the minds of a lot of people. While we are still trying to catch our breath from the ‘Great American Scream Machine’ (aka the roller coaster economy) , most of us have only been thinking about the here and now. Well here is someone who is thinking toward the here and future;

Questions: 1) Do you think down payment assistance will come back? 2) Are there still companies here in South Carolina that still offer grant programs?

Fortunately I’ve got help on the answers.

The Bible says that there is nothing new under the sun:

(Ecclesiastes 1:9) That which has been is what will be,

That which is done is what will be done,

And there is nothing new under the sun.

This reason for this is that everything is cyclical. There is nothing that you can do that has not already been done and things tend to repeat themselves. Good things and bad things. That is why the saying, ‘Those who do not know history are doomed to repeat it’, is correct. The saying is specifically referring to negative history ( wars, murder, moral lapses, etc…). Good historical events we would want to repeat and we do without regret.

Right now, lender and investor sentiment is against down payment assistance. These two vital groups are seeing assistance as part of the problem which is plaguing the economy. While it may be one of the contributing factors, assistance has been a much, much greater help than hindrance. The real culprits were those who changed the rules to allow the rapid and unjustifiable escalation in property prices (not value) and also allowed the corruption of the checks and balances between buyer, appraiser, underwriter and lender.

When the legislature(s) undertake the task of correcting these errors they will need to pay close attention to what the root causes of the downfall were( greed, incompetency, poor oversight, insufficient regulation). This means they will be using history as a guideline to help them avoid making the same mistakes we have already made.

Now, on to the questions.

A) Do I think that down payment assistance programs will come back? Yes, and soon - within the next year.

B) Are there still companies here in South Carolina that still offer grant programs? There are Federal programs still in effect AND there are some specific types of grants that are available in area. With borrowing each individual lives and dies by their credit history. Any loan officer would need more information in order to get specific about which programs are available to you. Find a reputable loan officer and get assistance.

Then, when you find the home you want, remember that great man of God Joshua and his words to God’s people;

“And Joshua said unto all the people, . . . choose you this day whom ye will serve; . . . but as for me and my house, we will serve the Lord” (Josh. 24:2, 15).

‘Go ye therefore and do likewise.’ If you don’t know where this is from, Google it.

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