The news from last night is that the home buyer tax credit amendment was passed by the Senate. Great news for everyone. And prominently announced by Senator Reid on his website.
This would extend the deadline for closing from the current deadline of June 30. The bill needs to pass the House, and likely must be passed before the June deadline.
The problem with the news is that its significance may be misleading. As best I could find out last night, only the Tax Credit amendment to the Tax Extenders Bill was passed.
The actual bill has not passed.
The Tax Credit amendment has not been voted on as a separate bill, I do not think. I will follow this closely today, and try to post updates.
This extension is estimated to cost $140 million, and to help 180,000 buyers who would otherwise miss out on the tax credit
More information on the tax credit and the full bill can be found here.
6/17 UPDATE POSTED HERE.
|
Richard Smith
NMLS 184479
Cell: 423-280-0345
Toll Free: 888-474-9920
Office: 423-899-6898
|
American Acceptance Mortgage, Inc
NMLS 132505, TN/GA Licensee
Email: rsmith@aamonline.com
|
FHA, VA, Rural Development, Conventional, Jumbo,
Reverse Mortgages, FHA 203k Renovation
Home financing in Tennessee and Georgia.
www.RichardSmithHomeLoans.com
|
|
Thank you for visiting. This is the professional blog for
|
|
Richard Smith
NMLS# 184479 TN# 40161 GA# 28928
Conventional, FHA, FHA 203k, HUD $100 down purchases, VA, Jumbo VA, Rural Development, Jumbo, FannieMae Homepath, Home Equity Line of Credit (HELOC).
Lending in Chattanooga, Tennessee and Georgia for over 20 years.
|
|
Stearns Lending, Inc
|
|
Cell phone: 423-280-0345 Email: Richard@HomeLoansChattanooga.com
|
|
Visit my website: www.RichardSmithHomeLoans.com To inquiry about a home loan Begin Here
|
|
Read my most recent articles in Scotsman Guide.
|
|
This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Stearns Lending, Inc.
|
;)
;)
;)
It does not look like Congress wants a housing recovery, or even a housing market. Can we just vote them all out, and start over with a new group. Maybe some who will represent.