From: Ray Hackenberg Sent: Monday, May 18, 2009 4:46 PMTo: AllUsersSubject: $8000 First-Time Homebuyer Tax Credit
FYI,
Last week, the Secretary of the Department of Housing and Urban Development (HUD) announced that home buyers would be able to use the $8,000 first-time homebuyer tax credit for down payments on FHA loans through the use of bridge loans. HUD also posted the information on its website (HUD Mortgagee Letter 09-15). Since then, HUD has completely removed the information from its website, leading to speculation that the program is on hold. While no official explanation has been given, it appears that HUD and the IRS are researching the details of the program, leaving its status uncertain. As soon as any new information is available, we will let you know.
Ray Hackenberg
Vice President Secondary
Consumers Mortgage Corporation
7851 Freeway Circle
Middleburg Heights, Ohio 44130
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