Tuesday, May 19, 2009

$8,000 Tax Credit? Now Even Better, $8,000 Tax Advance

Attention First-Time Homebuyers. Your voices have been heard...

How much good is a credit to stimulate the economy if the folks we want to stimulate are short on cash; like kind of a lot of us are in this economy. We've discovered that with a credit, you have to have the money up front in the first place to buy the home, then sometime down the road or paper trail, you'll get the money paid back or credited back.

What if I told you the FHA has finally got it, and now they're going to let you use the $8,000 for a down payment, available at closing. Well, it's true.

Read the following article if you have the time: http://www.realtor.org/press_room/news_releases/2009/05/re_summit?lid=ronav0019

Or give me a call, and let's go find your new home.

Not all the kinks have been worked out with the announcement of this policy; a bridge-loan is required, and which lenders will be approved and/or willing to participate is unclear. Not all applicants will be eligible for tax credit or bridge loan.

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