HUD Jammed Us Up Again

On Tuesday a letter was issued by HUD letting us know that the $8000 first time home buyer's credit could be used for down payments for FHA loans. A few news stories broke out immediately following that exciting news. At least we thought it was exciting news. Within a couple of days the story reversed. Never mind, HUD withdrew the letter. They were only kidding.

After sending out what I thought was exciting news, I had to send out another message a day later to my clients and fellow real estate professionals, letting them know that the HUD letter and information I sent out was not accurate.

THANK YOU, Jeff Belonger! Jeff the FHA expert who posted a blog article that did a wonderful job of clearing up the confusion created by HUD:

Using First-Time Homebuyer Tax Credits for the Downpayment - It's GONE !!!! - The story of the $8,000 tax credit