Rescinded!

By Jeff Orig, RA - Hawaii Real Estate Report | Published: May 15, 2009

- $8,000 First Time Homebuyer Credit can Now Be Used as Down Payment on FHA Loans
According to Rob Chrisman:

the statement made by Shaun Donovan, HUD secretary, on how the FHA will allow the $8,000 tax credit to be used for down payment at a NAR conference earlier this week was apparently “off base”. The information was removed from the website and the “Mortgagee Letter has been pulled for the time being although no official announcement has been made they are treating this as rescinded.  HUD will let us know if there is a change in status regarding reissuance.”

I guess they want to rethink that portion.  We’ll see how this unfolds and keep you up to date.

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