The Real Deal Miami

Tax credit advance program flawed

July 02, 2009 12:17PM

Florida wants to advance homebuyers the $8,000 federal tax credit now available to qualified buyers. But the Florida Homebuyer Opportunity Program lacks available funds and could derail a $161 million statewide grant program to help low-income home buyers and promote construction of affordable housing. Allocations to individual towns and cities will limit the number of loans that can take the advance payments, critics said. To find a local office for the Homebuyer Opportunity Program, go to www.floridahousing.org, select “Housing Partners,” then “Local Governments (SHIP),” then “Find Local SHIP Offices.”