-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
Senate! This extension allows homebuyers until September 30th to close their sale. This also gives some welcome relief to homebuyers who were not able to make yesterday's June 30th deadline due to closing delays. The extension only applies to those who were under contract to purchase on or before April 30th. 
This extension will benefit those who were buying short sale properties most of all. Short sales occur when a property is being sold for less that the mortgage balance owed. Selling for less than what is owed creates an extra series of requirements and steps that must be undertaken to satisfy the bank who is taking the loss. The extension of this homebuyer tax credit will allow homebuyers extra time to negotiate these more complicated transactions. For details of how this new extension applies to you make sure to contact your Real Estate and Mortgage professionals. 
;)
;)
;)
Find PA real estate agents and Pittsburgh real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
2 Comments on Extension of Homebuyer Tax Credit until September 30th Passes
Sorry this isn't such BIG NEWS to me as an Agent. This is being done for the Banks! While I am on the subject this did help the market for a while the 8K credit but it wasn't big enough break in the NYC area to really help everyone. Don't get me wrong 8K is allot of money but in NYC area is not as much as say 8K say in Kansas...
Yes this tax credit will help banks because they will have better luck clearing off their inventory to buyers who still have some motivation. But it will also benefit those buyers who got caught up by closing delays associated with the June 30th rush and the snafus that are commonplace with short sale transactions.
8K certainly goes farther in some areas than others. I hear 8K will get you a nice dinner and Broadway show in Manhattan. I have three little kids so my 8K goes to diapers and wipes.