HUD announced this week that last week’s announcement was null and void.  Reported here and most outlets regarding real estate, it was thought that qualified first time buyers would be able to use the $8000 credit as a part of their down payment. Lenders, home builders and real- estate agents had reacted favorably to the… Continue reading You Cannot use $8000 First Time Buyer Credit for Down

The National Association of Realtors estimates that an additional 350,000 people bought real estate this year because of the first time buyer credit.  Calculated Risk, in turn calculates that the cost of the $15.2B program was therefore $43,300 per additional house sold. That’s because 1.9 million people qualified for the credit. What seems harder to… Continue reading Should the First Time Buyer Credit be Extended?