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qualify under FHA programs.  President Bush just signed into law the Housing and Economic Recovery Act of 2008--which is great news for buyers and the real estate market.  Check out this link for details on some of the provisions of the Act:

http://www.realtor.org/gapublic.nsf/pages/hr_3221_key_provisions?OpenDocument

For more info on the $7500 tax credit for a first time home purchase (which is effectively an interest free loan that is recaptured over time available to those who have not owned a home in the last 3 years), check out:

http://www.realtor.org/GAPublic.nsf/files/chart_homebuyer_tax_credit_.pdf/$FILE/chart_homebuyer_tax_credit_.pdf

This Act could make 08 an incredible time to buy!

Happy shopping!!!!

Melinda