May 14, 2009

HUD has Changed their Policy on Tax Credit for Downpayment

Yesterday I posted that Shaun Donovan, Secretary of HUD announced that buyers could get the $8000.00 tax credit to use as a bridge loan for a down payment on a home.

I read the information at the National Association of Realtors website.

There was a letter put out by HUD which may no longer be available.

Well it seems that this information is WRONG!! At least today that is.

I called HUD to find out for myself and they told me the letter that  had stated this information had been rescinded.  That was all the information they would give me, no reason, nada.

Sorry if we got some peoples hopes up, I think Secretary Shaun Donovan ought to provide some kind of explanation.

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