The biggest news was HUD Secretary Shaun Donovan’s announcement that funds from the $8,000 First-Time Home Buyer Tax Credit would be available for FHA financing, which would permit home buyers to monetize their tax credits for down payments. He promised additional details about this in his keynote address. Stay tuned for more info!
At the morning session of the Real Estate Summit at the 2009 NAR Midyear Meetings, comments about improving short sales and foreclosures and driving a turnaround in the housing market and the economy generally with home buyer tax credits drew the biggest applause.
This is great news! Maybe we'll be able to buy a house before we're 50 now.
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