HUD officials said Tuesday that HUD would move forward with a plan to let first-time homebuyers use the currently available $8000 tax credit as collateral for "bridge loans" to cover the down payment on Federal Housing Administration-insured mortgages.
Century 21 Lanthorn R. E. Ltd. Belleville, Ontario - Belleville, ON
Forgivable goverment loans do count as buyer equity up here in Ontario, Canada. The question is whether or not this is letting unqualified buyers into the market again.
May 20, 2009 02:49 PM
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL
Will they? Won't they? This has been reported as a Yes and a No so many times I'm bewildered! Thanks for the update.
Sharon
May 20, 2009 02:54 PM
Willems Realtors, Principal Broker - Chesterton, IN
This could really help now. Since the sellers' can't help with downpayment.
May 20, 2009 03:12 PM
Prudential Woodmont Realty - Nashville, TN
Ursula - I sent out an e-alert update to all my first time buyer clients and since then we have heard yes, no, yes, no press releases from the government. This will be great if this is a go! All the best.
May 20, 2009 03:16 PM
Eau Claire Realty, Inc. - Eau Claire, WI
Eau Claire Wisconsin, Real Estate Agent & Realtor- Buy or Sell
It will be interesting to see what happens with this in the future for sure.
May 20, 2009 03:57 PM
Leolinda Realty - Surprise, AZ
Sun City Grand in Surprise Arizona
Ursula, its been a cat and mouse game for months now. Let's hope that it will be possible.
May 20, 2009 04:08 PM
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