After 12,000 applications were received California stopped accepting applications for the first time home buyer credit for new homes. Funding was for $100 million or 10,000 applications. 12,000 applications were accepted because there were some duplications and expectations that some of the applicants may not qualify.
Applications will be funded on a first-come first-serve basis.
The program was aimed at promoting sales of new homes.
Friday, July 24, 2009
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