Can I use the tax credit toward a down payment or other closing costs?
Monday, June 29
Yes. An announcement made May 29 allows the tax credit to be used toward purchase costs of a home, including down payment in some cases. This can be done one of two ways. First, buyers using an FHA-approved lender can sell their anticipated tax credit to the lender and use the proceeds to immedia...
Bank of America Revises Short Sale Policy
Friday, May 29
Bank of America, one of the country’s largest mortgage lenders, says it is loosening its policies on short sales in response to the U.S. Treasury Department’s announcement last week that it would increase incentives for lenders to work out short sale deals.The government’s plan is a boon to banks...
Fannie Mae Lifts 4 Property Rule
Thursday, February 12
Investors Can Now Finance Up to 10 Investment Properties Starting March 1, 2009! Lending giant Fannie Mae announced on Friday, February 6th 2009 they’re lifting the 4 property rule limit as of March 1, 2009. The Fannie Mae Policy Change will allow qualified investors to finance more than 4 proper...