HUD is still working on the details to allow homebuyer tax credit loans to be used for downpayment.
The proposal was "on" then "off" and now apparently back "on" again.
"The technical details are still being finalized and will soon be published in a mortgagee letter and posted on our Web site," Lemar Wooley, a HUD spokesperson, told REALTOR® magazine Wednesday afternoon.
Full Article (http://www.realtor.org/rmodaily.nsf/pages/News2009052101)
$8000 Tax Credit Basics (http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit)
I will distribute the final information and check on approval by the State of Texas as things progress.
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