Can Home Buyers Benefit From Mortgagee Letters?
Though they may be a little tedious to decipher at times, mortgagee letters offer home buyers a wealth of information on the climate of the lending market, current regulations and policies, as well as any new changes that are under way. With this type of insight, home buyers can approach lenders with more assurance and a better understanding of the lending market in general. Mortgagee letters can also shed light on opportunities that you may not have known were available and help you to be among the first to take advantage of new home programs. For example, a recent Mortgagee letter released on May 29, 2009, outlines how the First-Time Homebuyer Tax Credit can be used and eligibility requirements for receiving the tax credit. If you are one of those first-time homeowners this is extremely valuable information.
