Showing posts with label first time homebuyer. Show all posts
Showing posts with label first time homebuyer. Show all posts

Tuesday, May 19, 2009

You can NOT use the tax credit as a down payment

DON'T BE FOOLED!!!! AS OF TODAY you can NOT use the tax credit for a down payment

Yes there has been a lot of discussion about this topic but it is NOT an option currently. Those statements were made by the SECRETARY of HUD yesterday and a HUD/FHA letter was published on the website Monday night.

BUT……..the new DIRECTOR of HUD pulled that Mortgagee letter this morning and is no longer even available on the HUD website.

Here is the link to all Mortgagee Letters:

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/

Notice ML 09-15 has been pulled.

This theoretical program is now off the table

Myths vs facts

From the guru of agency, John Reilly: Regarding the Bright Analysis by Lisa Sturtevant, PhD Bright Chief Economist Our analysis shows that t...