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Time is Running Out on the First-Time Buyer's Tax Credit. Are you looking for a way to assist those last minute shoppers?
There have been many articles written recently regarding the looming tax credit deadline for first-time home buyers. A real debate has been raging ... should or shouldn't the tax credit be extended?
In the meantime while the pros and cons of this are being debated, I'm experiencing a great number of phone calls asking ... "Can I still take advantage of this credit"? And ... "Do I still have time to get a deal closed before the cut-off date"? As the clock ticks down on this program, it is getting harder and harder to answer in the affirmative. Closings are hard to guarantee and time is terribly short now. I hate having to tell a young first-time buyer that they may have missed their opportunity. It's sure not easy telling a referral partner that message either.
It's why I was almost giddy when I learned about a new loan product being added to the program menu at our company through Fannie Mae. This new program is exclusive to Fannie Mae Foreclosed Properties. No one needs to tell you, there is currently a virtual backlog of home inventory being held by this mortgage giant.
In order to improve the housing market, ... more
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