06/21/2009 05:12 am ET Updated May 25, 2011

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.

Read more on Washington Independant