Steve Jolly - The REO Expert for Greater Nashville

The National Association of Realtors®.reports that the sales of existing homes showed another gain in May, benefiting from the first-time buyer tax credit, May’s increase was the first back-to-back monthly gain since September 2005. Lawrence Yun, NAR chief economist, stated “Historically low mortgage interest rates ...

HUD recently announced a program authorizing FHA-approved lenders to develop bridge-loan products allowing first-time homebuyers to apply the $8,000 tax credit towards their closing costs, buying down their interest rate, or contributing more than the minimum 3.5% downpayment.  However, the new program does not allow the $8,000 tax credit to ...

In a speech before the National Association of Home Builders (NAHB) Board of Directors, HUD Secretary Shaun Donovan today unveiled new rules that will help spur the housing market by allowing consumers to use the $8,000 first-time home buyer tax credit to help cover the costs of closing on an FHA-insured home. "We believe this is a real win ...