FHA Preps Tax Credit for Down Payment Use

This Tax Credit would be another big step toward promoting homes sales to end users.

JMO:
Be careful before advising your clients of this impending benefit. Under the current provisions of the Tax Credit, the money must first be used to pay any past or current tax obligations. If these still applies, homeowners should not rely upon the full $8,000 until all other tax obligations have been met. Without doing your research up front, there will be a lot of deals that die at the closing table.