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fha: Major Announcement in MA Re $8000 First Time Home Buyer Credit!!! - 07/16/09 07:16 AM
At a press conference yesterday at the State House, MAR President Gary Rogers joined Governor Patrick, Lt. Governor Murray and MassHousing Chairman Dirrane announce Masshousing's new loan program that allows first-time home buyers to "monetize" the $8,000 Federal homebuyer tax credit for downpayments and closing costs. (From left) Worcester homeowner Thomas Gusha, Governor Patrick, MAR President Gary D. Rogers and Lt. Governor Murray speak with reporters about the new MassHousing program. "MAR is very proud to have been a resource for the Patrick/Murray administration and MassHousing in the creation of this new program," said MAR President Gary Rogers. Massachusetts now joins a small but
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fha: Qualifying for a Low-Down FHA Loan - 04/18/09 07:06 AM
Mortgages insured by the Federal Housing Administration can be a lifeline for low-income or high-risk borrowers. These loans have tiny down-payment requirements, competitive rates and easy credit-score hurdles. In fact, terms are so attractive that some may ask why all home buyers don't use FHA mortgages. Well, a lot more of them do. Since the housing bust began, FHA lending has soared to account for 20% of the total dollar volume in home loans - up from just 3% in 2006. There were 384,451 home purchase loans issued during the first two months of 2009, nearly four times the pace of
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