housing tax credit: Watch out for the DEAD...Line.....
- 03/13/10 05:54 AM
Watch out for the DEAD...Line..... The $8,000 first-time homebuyer tax credit program is set to expire in April. Homeowners who are looking to take advantage of this tax credit must be under contract on a home by April 30th 2010 in order to qualify and also must close on the home by June 30th, 2010 to receive the credit. We have not heard of any indication to date (03-14-2010) that the government intends to or will extend this credit. We anticipate that in the upcoming weeks that there will be much talk on the subject and hope they do consider extending it, however in the … (0 comments)
If the politicians actually spent time with the mortgage professional community, not necessarily just with federal or state chartered bank executives, discussing ideas and potential solutions, we possibly might be able to make a difference. Congress and these executives are far from the realities which actually exist in the market place. While I agree that the highest delinquent borrowers are the ones putting little of their own cash down and getting Down Payment Assistance, once eliminated the next highest delinquent borrowers would be those next in line that put 3% or 3.5% down. The problem would still … (1 comments)
Watch out for the DEAD...Line.....
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