Homebuyer tax credit off the radar

GAO puts bill for program at $22 billion through 2019

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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.