Q: Is it true that if you are a first-time homebuyer and you purchase your home in 2009 that you can use the $8,000 tax credit toward the downpayment? A: You'll find, in the real estate and mortgage world, that there are a number of big gaps between what is allowed, technically, and what is feasible, realistically. You have hit on one of those gaps, my friend. Mindset Management Mortgage rules and guidelines change very rapidly these days. It can be very tough to keep up with them, and sometimes difficult to know what you can and cannot do at any given moment in time. It helps to get clear on how these things work, especially when you are dealing with a government-insured mortgage situation. The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Ad...
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