BYE BYE 8k credit for down payment

Mortgage and Lending
This is an article Posted by Rona Fischman

Remember that promise that Shaun Donovan, HUD Secretary made at the Realtor mid-year meeting on Monday? The one about that the $8000 tax credit being made available for down payments? Well, the promise is broken.

I got this notice from NAEBA headquarters this afternoon:

According to contacts with both FHA and HUD, Mortgagee Letter 2009-15, which stated that first-time homebuyers would be allowed to use the tax credit for their downpayment, has been rescinded. On a phone call with FHA, Kim Kahl was told, "The mortgagee letter has been rescinded for the time being.” NAEBA President John Sullivan was told something similar when contacting HUD. Neither FHA nor HUD gave further details.

Comments (1)

Lisa Wetzel
RE/MAX Realty Affiliates - Carson City, NV

Well!  That was rude!

How the heck are we suppose to be "in the know" if the powers that be don't even know which end is up? 

May 15, 2009 02:11 AM