HUD Program Encouraging People To Buy Homes They Can't Afford

HUD Program Encouraging People To Buy Homes They Can't Afford

When U.S. Housing and Urban Development Secretary Shaun Donovan announced last week that first-time homebuyers soon will be permitted to turn their $8,000 tax credit for purchasing a property into downpayment money, he called the development "exciting" and "a real win for everyone."

But his enthusiasm isn't universal.

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