Shaun Donovan, Secretary of Hud, was a guest on a late night show. When ask about extending the now expired tax credit , he said the housing numbers for July were worse than expected, and that they are watching very carefully But that's how things get blown out of proportion and rumors start. Two other guest on that same show said they would welcome it.
All of a sudden it was being reported that a second tax credit was in the works. Well guess what folks before you start cashing your checks, three days later Donovan said it was not high on anybody's list. He also said that the government was considering a emergency loan program to help underwater home owners. This was already done a long time ago and is known as The FHA Short Refinance.
The state that used the tax credit the most was California with 1 Billion, followed by Texas, and Florida.
Realtors in most areas report that sales have declined since the expiration of the credit.
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