First Time Home Buyer Tax Credit Used Directly fo Downpayment
The National Association of Realtors announced that first time home buyers being able to use the tax credit directly for a downpayment is in the works and should be annonced shortly.
HUD: Homebuyer Tax Credit Loans Still on Track
News reports that the federal government is
backing away from its plan to permit eligible borrowers to monetize the
first-time homebuyer tax credit are off the mark, a spokesperson for
the U.S. Department of Housing and Urban Development says.
"The technical details are still being
finalized and will soon be published in a mortgagee letter and posted
on our Web site," Lemar Wooley, a HUD spokesperson, told REALTOR® magazine Wednesday afternoon more.............................