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HUD: Tax Credit Can Be Used on Closing Costs

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban ...

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Data on Housing Tops Expectations

Construction of new homes leapt back in May after dropping sharply a month earlier, the government reported on Tuesday, signaling that the housing and construction markets may be hitting a bottom. Housing starts in the United States rose 17.2 ...

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Senators Want Homebuyer Tax Credit to Rise to $15,000

June 10 (Bloomberg) — Lawmakers are pushing to revive legislation in the Senate that would almost double an $8,000 tax credit for first-time homebuyers and expand the program to all borrowers. Senator Johnny Isakson, a Georgia Republican, in...

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Pending Home Sales rise 6.7 percent in April

WASHINGTON – The number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in more than seven years, a sign that sales are finally coming to life after a long and painful slump. ...

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NEWS FOR THE WEEKEND

Ok what happened on Wednesday that created the largest increase in rates since October of last year? Several things, but most related to the treasury auctions taking place. While both Tuesday and Wednesday’s auctions performed fairly wel...

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Reversal of HUD’s $8,000 Tax Credit Announcement

As you know HUD made an announcement on May 12 that they were going to allow homeowners to use the $8000 tax credit as down payment monies by empowering state agencies, non profits and HUD approved Mortgagees to lend the monies to home buye...

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Want Some Good News ???

The Gallup Organization released a report this week summarizing the results of a survey they conducted in early April (video report).One of the survey questions asked of the American public was “For people in general, do you think now is ...

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No water in the swimming pool? No loan!” says FHA

This transaction is in the final stages and the seller is Freddie Mac (bank owned single family detached house). All inspections have been completed, appraised value is in, and by all appearances, we were good to go ~ until we received a letter...

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No water in the swimming pool? No loan!” says FHA

This transaction is in the final stages and the seller is Freddie Mac (bank owned single family detached house). All inspections have been completed, appraised value is in, and by all appearances, we were good to go ~ until we received a letter...

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$8000 can be used as DOWN PAYMENT!

If you have not owned a home in the last 3 years you are considered a first time homebuyer. If you have a credit score of at least 625 you are eligible for an $8000 tax credit….and today we found out that it gets even better! The tax cre...

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