Now You See It…Now You Don’t – is HUD Squashing Tax Credit as Down Payment Program????

I blogged last week about FHA's new plot to allow prospective purchasers to monetize the first time Home Buyer's $8,000 tax credit and use it as a down payment on the buy of a home. The Secretary of HUD made statements at a NARS meeting about the revolutionary plot and HUD drafted a Mortgagee Letter (ML 09-15) describing the plot more in depth (which I personally viewed and read on their website).

But, ML 09-15 has disappeared from HUD's website and we are left wondering if HUD is already pulling the plug on this plot…

Related posts:

1. Mortgage Assignments are Not the Real Estate Investor’s Dream!
2. Seasoning and FHA’s Time Restrictions on Resales – a Legal Analysis
3. Jack of All Trades and Master of None: Attorneys Wearing Multiple Hats in a Transaction
4. The New York Law Journal – Free Breaking News: Chief Judge Unveils Program to Deal With Dramatic Rise in Foreclosures
5. FHA Limits on Cash Out Refinances drops to 85%