You Might Not Have to Wait Until 4/15 to Get Your Money!

First off if you are in the market for a home you should become conversant with this $8000 First Time Homebuyer credit being offered on purchases through Dec of 2009.  Here is a link to the relevant information at the IRS Wesbite:

www.irs.gov/newsroom/article/0,,id=204671,00.html

Keep in mind: the credit Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed!

But wait it MAY actually be getting even better: you MAY shortly be able to use the credit for DOWNPAYMENT ASSISTANCE with certain FHA lenders:

DOWNPAYMENT ASSISTANCE

First-time homebuyers will soon have another option if they want to use their $8,000 tax credit toward a downpayment. According to HUD Secretary Shaun Donovan, FHA-approved lenders will soon be able to issue a short-term bridge loan equal to the tax credit. Buyers will then pay back the bridge loan after receiving their tax refund. Donovan hopes to have the details available within a few days.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-051309.cfm

This REALLY IS the TIME TO BUY!

- Mike W.