Homebuyers get creative to close deals

Miami resident Efrain Hernandez couldn’t seal a deal before the
expiration of the first-time homebuyer tax credit, and almost gave up.
But by waiting, he was able to talk Lennar into a making a $40,000 price cut, giving $18,000 in closing costs and getting a $7,500
no-interest loan from Miami-Dade County to ease his down payment. Money
is now increasingly available to buy homes — from FHA, to new bank
loans and private loans. [Chicago
Tribune]