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CU System
Tax credit packs CUs homebuyer seminars
MADISON, Wis. (4/14/09)--UW CU, Madison, Wis., has experienced an increase in participants at its homebuyer seminars, held in conjunction with the local housing authority, because of the government’s $8,000 tax credit for first-time homebuyers. Those attending the seminars want to know how the credit can be used, how they can get the money and if the credit union does anything with it, according to UW CU Director of Mortgage Lending Julio Rios (Wisconsin State Journal April 13). About 700 UW CU members have applied for and received pre-approval for mortgages during the past three months. This figure is twice of what the credit union processed last year at this time and includes many first-time homebuyers, the newspaper said. Taxpayers who purchase their first home before Dec. 1 can receive the credit on their 2008 or 2009 tax returns. The home must be their primary residence for three years after purchase. UW CU has $1.08 billion in assets.
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