$8,000 Tax Credit Scheduled to Expire Nov.30
Unless Congress acts to extend the credit before the scheduled deadline, first-time homebuyers wanting to take advantage of this credit need to act soon! Nowadays it's taking at least 30 days to close, so I advise putting something under contract before Nov. 1.
Realtors and contractors have been lobbying, as you might imagine, for an extension of this deadline. There is plenty of opposition to an extension of this homebuyer's credit, so passage is far from assured.
I have no crystal ball during these uncertain times, but if you have a stable job, decent credit, and always wanted to own a home; it's hard to see how you could lose by acting in time to receive this credit - particularly on homes priced under $100K.
(This post originally appeared on Melody's blog "www.PostcardsFromTheLake.com)