The 2009 First-Time Homebuyer’s Tax Credit passed by Congress this year just might be the best financial opportunity available to qualified home buyers in a generation. The new credit is retroactive to January 1, 2009. Unlike the 2008 package, this is not a loan. Eligible first-time buyers receive an $8,000 tax credit from Uncle Sam…
Tag Archive: FHA
Borrowers Can Use the $8000 Tax Credit at Closing
First-time buyers using FHA financing will be able to use their $8,000 federal housing tax credit at the closing table, rather than waiting for a tax refund, according to an FHA document released today. The eagerly-awaited “mortgagee letter” spells out the details of the effort, which was first announced two weeks ago by HUD Secretary…
Foreclosure filings jump 24%
Source: CNNMoney.com NEW YORK (CNNMoney.com) — Foreclosure activity skyrocketed in March and the first quarter of 2009 to their highest levels on record as banks lifted moratoria on filings. Total foreclosure filings – which include default papers, auction sale notices and repossessions – reached 803,489 in the first quarter, according to a report released Thursday…
Hope for Homeowners
Hud list of approved Hope for Homeowners Lenders HUD officials have compiled a list of lenders participating in the HOPE for Homeowners program, which they say could help as many as 400,000 homeowners avoid foreclosure by refinancing problem loans into new 30-year fixed-rate mortgages insured by the Federal Housing Administration. When released by the…