SOMETHING NEW IS COMING!
THE $8000 Tax Credit Can Be Used for Down Payment.

This was just announced today so the logistics are not in place yet but I will give you more info as I know more. The Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, says. He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table. For more info visit http://ping.fm/QBhDh