Here Today-Gone Tomorrow

No wait that was actually here yesterday-gone today.    What you ask?    The news that the $8000 tax credit could be used as part of your down payment.

Despite getting excited cheers from the agents gathered at the National Association of Realtors® mid-year conference in DC, the proposal ended up on the cutting room floor of HUD just as quickly as it was announced.

There of course will be a lot of groaning about this latest change but a great mortgage professional who I read Jeff Belonger put the rationale for the quash in a recent post on Active Rain.

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