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Using the $8000 tax credit for downpayment, from my understanding has been cancelled

By
Mortgage and Lending with Charter One Bank

I know there was an article out there that I recieved stating that the new stimulis tax credit for $8000 could be used for downpayment. Obviously I thought this was wonderful for all our active rain people and the whole country!!  I contacted my wholesale rep from GMAC and he said HUD removed that proposal.  Know I am not saying he is correct but obviously he heard it from somewhere. I guess my point is, lets not spread the word until we hear more detail....I really couldn't see HUD doing that in the first place....foreclosure is on everyones minds and that program would put a lot of risk out there....have a great day anyway....Tony Felbab