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In a speech this week HUD Secretary Shaun Donovan announced that the Federal Housing Administration came up with a way to allow first time homebuyers to use the $8,000 first time home buyer tax credit as a down payment at the time of purchasing a home. In light of this new development, the Homeownership Resource Center, a division of Family Services, Inc., rēhava – real estate store and the College of Charleston's Carter Real Estate Center will present a First Time Homebuyer Workshop on Saturday, May 30, from 10 a.m. to 4:00 p.m. at the Wachovia Auditorium located at the College of Charleston.
The new $8,000 tax credit for qualified first time homebuyers and other recent changes in legislation have enormous implications for the housing market and present many opportunities for first time homebuyers. They will no longer have to wait until the following year and their tax refund to get the money. However, the home buying process can be extremely confusing even for experienced home buyers. Knowledgeable counselors and industry experts will discuss key steps of the home buying process – focusing on topics such as mortgage applications, fees, and budgeting, current market conditions, qualifying for the new $8,000 tax credit for first time homebuyers, buying HUD properties and foreclosures, home inspections and the closing.
To sign up for the workshop, visit www.rehava.com or call 843-744-1348 ext. 25. This free class includes lunch and is open to public. The College of Charleston's Wachovia Auditorium in the Beatty Center is located at 5 Liberty St., Charleston.
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