Hallelujah! Please give us this lord and we won't ask for anything, ever again! (Well, not for a while, at least.) There are SO many loans tied up in processing, not to mention those in the USDA Rural Development pipeline. The number of buyers that would qualify, but cannot get closed by May 30th is staggering.
Lawmakers consider home tax credit extension
"The National Association of Realtors estimates that about 180,000 homebuyers who already signed purchase agreements are likely to miss the deadline."
Thirty days would be enough for the conventional and FHA loans that are in the pipe, USDA is another story. A.) We need Congress to fund it. B.) USDA will need to process the backlog. AND then C.) The lenders can get Docs out to close those loans...90 days? Should work.
Comments(2)