Update: I have seen somethings that would say that this has been scratched and I have also seen that HUD and FHA will finalize this sometime next week. Will keep posted.
Update 2: New information on the $8000 housing tax credit here
BREAKING NEWS announced today that the $8000 first time home buyer tax credit can be used for a down payment.
It appears that the $8000 tax credit will be accessible through Federal Housing Information (FHA) approved lenders as a bridge loan (meaning interest is involved). This will make for funds to be available at the closing table, instead of a tax credit the following year.
HUD Secretary Shaun Donovan
We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment
More to follow as it becomes available
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