The rest of the story:
Buyers who qualify for the $8,000 tax credit previously had to wait until after filing a tax return to see any of the money. With the new rules in place FHA approved lenders could/might/maybe have the ability to make the funds available at the closing table thru short term bridge loans.
EDIT 5/14/2009:
The Tax Credit CANNOT BE USED AS DOWN PAYMENT. It is a LOAN against the tax credt.
Final details of the program should be available shortly.
And... GOOD LUCK to the O'Fallon High School girls track team this Friday at sectionals!
