Tax Credit to Come Upfront for Some First-Time Home Buyers
Housing Secretary Shaun Donovan announced details Friday on a plan to allow some first-time home buyers to get upfront cash for a down payment on a house through the government’s new tax credit for new home buyers.
But the Housing and Urban Development Department acknowledged the program will help just “thousands” of borrowers, mainly lower-income families that insure their first mortgages though the Federal Housing Administration.
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