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Yesterday was a very important meeting at the NAR Real Estate Summit inWashington. The following is an excerpt from that meeting:"Secretary Donovan (secretary of the U.S. Department of Housing andUrban Development) said that important changes, which the NationalAssociation of Realtors® has been calling for, will help consumerspurchase a home. "We all want to enable FHA consumers to access the homebuyer tax credit funds when they close on their home loans so that thecash can be used as a downpayment," Donovan said. According to Donovan,the FHA's approved lenders will be permitted to "monetize" the taxcredit through short-term bridge loans. This will allow … (0 comments)
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