Finally!  It's the news we've been waiting for!  The Federal Housing Administration said they are now considering an action to allow new home buyers to use their tax credit toward their down payment.

Currently, homebuyers can receive an $8,000 credit if they are first-time purchasers & meet certain income limitations.  I actually had a client last year who was supposed to close in December, 2008.  Thankfully, due to delays with the lender, he closed in January of 2009 and, guess what?!  Because of that delay, he was able to then qualify for the $8,000 tax credit.  He received the money back when he filed his taxes this year.

Details aren't out yet, but we will let you know as soon as we've heard something.  So, now, you won't really have an excuse to not buy a home, right?