I am going to keep talking about the tax credits for the next 37 days. That is how long you or one of your friends or relatives has to get a home under contract. It is not just a first time buyer thing ( don't forget a first time buyer is someone who has not owned a principal residence in the last three years). There is also the $6500 credit for the move up buyer. And this person does not have to sell the existing home. I the case of the first time buyer, we can get the buyer in the home for zero cash and then he or she will get the tax credit back in cash to put in savings or to do whatever with. I recommend savings until they get use to owning a home.



This is a link that will answer a lot of questions. Let me know if I can help.

http://www.federalhousingtaxcredit.com/