More Home Buyers Lured to Foreclosed Properties

A recent survey finds that 55 percent of U.S. adults are at least somewhat likely to consider purchasing a foreclosed home.

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TALLAHASSEE, Fla. – May 27, 2009 – Gov. Charlie Crist signed the budget bill (SB 2600) today that lays out how the state will spend its $65.6 billion in the fiscal year that starts July 1. Included is $30.1 million for the Florida Homebuyer Opportunity Program, which will help with downpayment assistance.

Beginning July 1, those who quality for the federal $8,000 first-time homebuyers tax credit will be able to apply for downpayment assistance before they close on the purchase of their home, and then repay the amount borrowed when they get their tax refund. The program will operate through local county housing administrators, though details are still being worked out.

The state spending plan passed today also includes the following for real estate-related programs:

• Up to $400,000 to prevent, combat and publicize the dangers of unlicensed real estate activity in Florida.

• $540,000 to continue and complete a study to make recommendations on passive strategies on nitrogen reduction that complement the use of onsite wastewater treatment systems.

• $3 million in the Real Estate Trust Fund for the Education and Research Foundation.

• A reduction in the eviction filing fees from $265 to $180 – the only fee reduction in the 2009-10 budget, and one with a negative fiscal impact of up to $36 million.

Bill Offers Renewed HOPE for Troubled Owners

The Obama Administration Signed a bill on Wednesday that offers extra incentives to attract more lenders to refis.

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HUD: Homebuyer Tax Credit Loans Still on Track

A spokesperson says HUD continues to prepare guidance on the first-time homebuyer tax credit.

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HUD: Homebuyer Tax Credit Loans Still on Track

A spokesperson says HUD continues to prepare guidance on the first-time homebuyer tax credit.

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