October 23, 2017

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Articles Published in: June 2009

Using the 2009 First-Time Homebuyer Tax Credit

First time home buyers purchasing a home with an FHA loan or going through a HUD-approved charitable agency can use their 2009 First Time Homebuyer's Tax Credit to make their downpayment. The Department of Housing and Urban Development recently announced this new first-time homebuyer perk, which helps millions of FHA borrowers reduce the financial stress of making that first home purchase.

 

FHA Issues Sanctions Against 120 Lenders

FHA loans are safer as a result of these sanctions, and a bill called the Helping Families Save Their Homes Act further protects those interested in FHA home loans by requiring HUD approval for all parties participating in FHA single family mortgages.

 

2009 Tax Credit and FHA Loan Down Payments Update

FHA borrowers were told they could use the loan as a down payment on their homes, but legal issues prevent banks from issuing down payment assistance on FHA mortgages. Since the initial May announcement, the rules have been revised so that such bridge loans are used within federal guidelines.

 

FHA Home Loan Numbers Increase in Spite of Housing Slump

While indicators show conventional lending markets are still feeling the effects of the housing slump the FHA has taken a larger role in helping consumers get affordable home loans. Some of the most recent developments are making those on the fence about buying a new home in this economy give FHA loans a second look.