As I mentioned in Friday’s post, the use of the first time buyer tax credit toward BUYING A HOME,  is a work in progress.
A very knowledgeable loan originator, Jeff Belonger in Cherry Hill NJ just posted a very good explaination of the rules as they are today. Rather than re-invent the wheel, see Jeff’’s post [...]

To know the answer to that question, it is important to ask yourself the following questions first:

Do you plan on living in the home for 3 to 5 years?
Do you have a stable job or retirement income?
Are rents and rental occupancy rates increasing in the area you wish to live?

If you answered yes to these [...]