**UPDATE on $8,000 Tax Credit

As I have recently blogged about,  FHA-approved lenders can now provide short-term bridge loans to first-time borrowers eligible for the $8,000 home buyer tax credit, which allows buyers to use the tax credit at closing and then they just pay back the loan once the refund is received.  But under guidance issued by the Department of Housing and Urban Development late last week, the loans must be on top of — not instead of — the minimum 3.5% down payment normally required on FHA-insured loans.   So that means the $8,000 can go towards repairs required to close and other closing costs or can go towards your principal payment but you still have to come up with the down payment. 

Building, Swapping, & Closing Real Estate - Info. You Can Use!

You do not have to be discouraged in today’s real estate market just creative!  Whether you are looking to buy or sell, check out the following links that can help you succeed on either side of the table in this real estate market.