The Hat Trick House is coming along quickly now. I switched gears to working outside this week painting the garage to match the house and starting the rear privacy fence. Final inspection for electrical is scheduled for Monday so if we pass we’ll proceed with finishing A/C and calling it in for final as well. The cabinets and vanities will hopefully arrive on Thursday. The buyers who wrote the killer offer have been by twice this week checking progress.
$8000 Dollar Tax Credit as HUD down payment?
HUD is now allowing first time homebuyers to use their $8000 tax credit as the down payment on FHA insured loans. Isn’t this taking us right back to where the problems began with putting people in homes with zero down and no skin in the game? We already got rid of the “down payment assistance programs” due to the high default ratios of buyers who didn’t put anything down. HUD secretary Shaun Donovan announced this brain fart this week during a prepared speech.