The Secretary of Department of Housing and Development, Shaun Donovan said yesterday that FHA would permit lenders to allow first time borrowers to use the $8,000 tax credit recently put into law as all or part of a down payment on a home. Read more here. Details of the plan will be published soon.
My wife and I just bought our first home last month. Do you have (or know where I can find) information on how exactly we will receive the $8,000 credit — e.g. a one-time check?
Thanks.
You can visit the IRS website for more information or consult your tax accountant. Hope that helps!
(http://www.irs.gov/newsroom/article/0,,id=204671,00.html)
Wow! Happy I saw this today. My husband and I are approaching this process and would like to take advantage. Thanks!!