Keller Williams Family Group News | LinkedIn
"Mortgage lenders are apparently being swamped by the demand for homebuyers to close on their home loan by June 30th, which is the current expiration date of the home buyer tax credit. Therefore, the U.S. Senate has voted for a proposal that would extend the tax credit again.
Usually, it wouldn't take over two months to close on a home loan. But, it's not normal circumstances right now. In today's world of mortgage finance, every bit of the home buyers information has to be verified and reverified and the home valuation code of conduct is also having to be adhered to by appraisers. Therefore, it's taking much longer to close and time gets stretched out.
According to the National Association of Realtors®, there are 180,000 buyers who made the April 30th deadline to have their valid contracts signed. However, without another tax extension, many would not make the last deadline to close by June 30th.
So, through the new proposal, if you have signed a valid contract before April 30th, you will be eligible for the home buyers tax credit extension."
http://www.linkedin.com/news?viewArticle=&articleID=138500598&gid=63992&articleURL=http%3A%2F%2Famarillorealestate%2Ewordpress%2Ecom%2F2010%2F06%2F21%2Fthe-rush-to-meet-the-new-proposed-homebuyer-tax-credit-extension%2F&urlhash=wHgf&trk=news_discuss
http://snipurl.com/xmwxe
Helping make real estate dreams come true
Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact:
Kathleen Lordbock REALTOR/Staging & Short Sale Specialist
Keller Williams Realty Brainerd Lakes
Don't just walk away - there is hope, there is help!
"Mortgage lenders are apparently being swamped by the demand for homebuyers to close on their home loan by June 30th, which is the current expiration date of the home buyer tax credit. Therefore, the U.S. Senate has voted for a proposal that would extend the tax credit again.
Usually, it wouldn't take over two months to close on a home loan. But, it's not normal circumstances right now. In today's world of mortgage finance, every bit of the home buyers information has to be verified and reverified and the home valuation code of conduct is also having to be adhered to by appraisers. Therefore, it's taking much longer to close and time gets stretched out.
According to the National Association of Realtors®, there are 180,000 buyers who made the April 30th deadline to have their valid contracts signed. However, without another tax extension, many would not make the last deadline to close by June 30th.
So, through the new proposal, if you have signed a valid contract before April 30th, you will be eligible for the home buyers tax credit extension."
http://www.linkedin.com/news?viewArticle=&articleID=138500598&gid=63992&articleURL=http%3A%2F%2Famarillorealestate%2Ewordpress%2Ecom%2F2010%2F06%2F21%2Fthe-rush-to-meet-the-new-proposed-homebuyer-tax-credit-extension%2F&urlhash=wHgf&trk=news_discuss
http://snipurl.com/xmwxe
Helping make real estate dreams come true
Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact:
Kathleen Lordbock REALTOR/Staging & Short Sale Specialist
Keller Williams Realty Brainerd Lakes
Don't just walk away - there is hope, there is help!
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