October 18, 2007

Charities Sue to Block Ban on Down-Payment Gifts

By Peter Panepento

A decision this month by the U.S. Department of Housing and Urban Development to ban nonprofit housing programs from giving down-payment assistance to home buyers has sparked a federal lawsuit from two nonprofit groups that are looking to preserve the practice.

Ameridream, of Gaithersburg, Md., and Nehemiah Corporation of America, in Sacramento, filed lawsuits at the U.S. district court in Washington to block the HUD rule, which is scheduled to take effect November 1. The housing

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