monetize tax credit: Tax credit downpayment. Is it back in play with new HUD announcement? - 05/29/09 10:51 AM
The tax credit down payment is back. Well maybe not so much.
HUD announced today the details of the "new" program that have been much anticipated and in the news recently with a lot of false information. I expect that today's announcement will add to the dissemination of false information.
The policy allows certain entities to offer tax credit advances with second liens. This is the approach already taken by THDA for Tennessee purchases. Other states have similar programs.
The purchaser may not receive cash back as a result of the tax credit advance.
The second lien may not exceed the total amount … (12 comments)
|
monetize tax credit: Monetize the tax credit - TN Housing second mortgage - 05/14/09 05:10 PM
The recent buzz from the recent remarks that HUD Secretary Shaun Donovan made at the NAR Real Estate Summit has evidently been revoked, before it was implemented. The Mortgagee Letter has been pulled from HUD's site.
When the news story broke, and it is all over the internet world, there did just not seem to be enough time to implement the plan. The tax credit expires in November.
It now appears that Sec Donovan's remarks were premature. There is some discussion now about why the plan was apparently pulled. I just think it was a great idea that was announced before it was … (9 comments)
|
|
|
|
;)
;)
;)
