Blog Archive: May 2009

Today on the Ilyce Glink Show - May 31, 2009

Today on the Ilyce Glink show, Ilyce talked about HUD Secretary Shaun Donovan's announcement this week that first-time buyers would be able to use their $8,000 tax credit to offset some FHA loan program costs and then put the rest toward a larger down payment - after coming up with the initial 3.5…

Topics: foreclosure

New Guidance from HUD: Use $8,000 tax credit toward FHA loan costs

This morning, HUD Secretary Shaun Donovan announced a new program that will allow first-time buyers to use the $8,000 tax credit toward FHA loan costs, rather than wait to file their 2009 tax returns (in 2010) to get the cash. We've published the Shaun Donovan HUD statement and the FHA Mortgagee Letter that describe the program on the ThinkGlink.com website.

Topics: down payment

GDP Declines 5.7 Percent During First Quarter

Today's the last business day in May. We're two months into the second quarter of 2009 now. Here's hoping June will be a positive month for the economy.

The Commerce Department announced the real gross domestic product (which takes inflation into account and tracks the value of all goods and services…

Topics: personal finance advice

Fewer Americans File For Unemployment For Week Ending May 23

Fewer Americans filed first time unemployment insurance claims last week, the Department of Labor reported this morning.

The seasonally adjusted estimate was 623,000, down from 636,000 the prior week.

For the week ending May 16, it appears that layoffs are beginning to slow down. Thirteen states saw…

Topics: personal finance advice