Last Friday, I got this email:
"On Friday, the U.S. Department of Housing and Urban Development (HUD) announced that first-time homebuyers using FHA-approved lenders can now get an advance on the $8,000 tax credit created by the stimulus package and apply it toward their down payments or closing costs."
Basically, instead of waiting to get the $8,000 tax credit, first time home buyers can get the $8,000 for the down payment.
This is huge especially for one of my clients who have been approved for a $220,000 last January but do not have the down payment for a house. They are paying $1,200 for rent and can't wait to buy their own home.
Here's the full article from CNN MONEY: $8,000 HUD TAX CREDIT NOW!
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