The U.S. Department of Housing and Urban Development (HUD) announced today 5/29/09 that the first-time homebuyers $8,000 tax credit can be used for the down payment with one caveat - the buyer still has to put down the minimum 3.5% and THEN the $8,000 credit can be used to increase the down payme
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05/29/2009
According to HUD (U.S. Department of Housing and Urban Development), plans to allow first-time homebuyers to utilize the $8,000 tax credit at closing are still on track. This would allow first-time buyers to use a bridge-loan to access the $8,000 at closing and pay it back from the proceeds of t
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05/21/2009
There was a lot of chatter last week after HUD's announcement about first-time buyers being able to use the $8,000 tax credit towards their down payment. HUD rescinded its agreement on Friday, May 15, because all details were not worked out. I think NAR may have jumped the gun with its announce
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05/18/2009
Good News! The Secretary of HUD has announced that FHA first-time homebuying consumers will be able to access the $8,000 tax credit and use it as a down payment when they close on their home. Previously, buyers would not be able to access the credit until they filed their 2009 return or amended
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05/13/2009