The deal was struck, and it was all for the good.  As reported here, buyers were going to be able to get a loan to cover the $8,000 tax credit.  In effect, the loan would be a low cost way to use the tax credit for their down payment.

But… two days later and it is not as true as it seemed.  Jeff Belonger has uncovered the weak link and found that the rule change has been ruled out of validity…

There might be ways to utilize this for other loan programs, but for FHA it doesn’t look like a go… today.

Obviously we are seeing things change on a day to day basis.