Real estate blog entries tagged with hud by Cheryl Powell- SFR,ABR,Broker,Realtor- Remax Executive - Concord NC Real Estate (RE/MAX Executive

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Home : Blogs : Cheryl Powell- SFR,ABR,Broker,Realtor- Remax Executive - Concord NC Real Estate : Cheryl Powell with Remax Executive Realty- Concord NC- Real Estate Blog : Tag "hud"

hud: $8000 tax credit as downpayment... HUD says program NOT killed! - 05/21/09 11:58 AM

According to my lender sources and The Arizona Herald article "HUD says bridge-loan program hasn't been killed", HUD is still moving forward with a plan to let first-time homebuyers use the currently available tax credit of up to $8,000 as collateral for "bridge loans" to cover the down payment on FHA insured mortgages.
According to the article, HUD spokesperson Brian Sullivan stated that the program details haven't been finalized and would not say when the bridge-loan program would be initiated, or whether it would be substantially different from what originally was announced.
Let's all keep our fingers crossed that this program will be … (9 comments)

hud: HUD withdraws option to use $8000 tax credit as down payment... at least for now - 05/19/09 12:07 PM

There's been a lot of buzz in the real estate and mortgage industries about FHA allowing home buyers to use the $8000 tax credit as a down-payment. However, in this case the government giveth and the government taketh away!
Tuesday May 12, 2009, in an address to several thousand REALTORS® gathered at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, DC, HUD Secretary Shaun Donovan said that FHA was going to enable home buyers to access the $8,000 tax credit at closing, so the funds can be used as a down payment. This was to … (0 comments)

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Cheryl Powell- SFR,ABR,Broker,Realtor- Remax Executive - Concord NC Real Estate

Concord, NC

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I provide professional real estate services to Buyers and Sellers in Greater Charlotte NC, including Concord, Harrisburg, Kannapolis, Mooresville, North Charlotte, Salisbury & their surrounding areas. My specialties include: Resale Homes & New Construction - Relocation - 1st Time Buyer Programs - Investments - Foreclosures - Short Sales. I have the experience, knowledge and dedication that it takes to get the best results. Contact me anytime to discuss your real estate needs!

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