Homebuyer tax credit off the radar

GAO puts bill for program at $22 billion through 2019

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

There’s no serious talk of reinstating the homebuyer tax credit, the White House and real estate industry trade groups say, quashing speculation that followed statements Housing Secretary Shaun Donovan made on a Sunday morning news show.

Appearing on CNN’s "State of the Union" on Aug. 29, Donovan said July’s housing sales numbers were worse than expected. The Obama administration was rolling out a new FHA refinancing program targeted at underwater borrowers, he said, and an emergency loan program aimed at helping unemployed borrowers keep their homes.