New May 11th 2009!!!!
The government Monday gave the green light to the financing of bridge loans of up to $8,000 to buyers who qualify for the tax credits under the Obama Administration's economic stimulus plan. This will allow certain borrowers to use their funds at closing for down payment assistance.
Please note that this has not yet been completely approved and is not available as of today for buyers to take advantage of. Monday was the big announcement and the details will be released in the near future on www.hud.gov
I've spoken with Marybeth Bracken with Advance Mortgage and as soon as she has more detailed information on this new program I will let you know. In the meantime if you have any questions or know anyone who might benefit from this program please give me a call.
Sincerely,
Suzy Cochran
757-754-6600
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