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Congress passed an extension for tax credit.

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Real Estate Agent 201216288/201224961

Congress passed an extension of the closing deadline for the Home buyer Tax Credit, the Home buyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions already under contract as of April 30, 2010, that have not yet closed. The new closing dea...dline for eligible transactions is now September 30, 2010. of the closing deadline for the Home buyer Tax Credit, the Home buyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions already under contract as of April 30, 2010, that have not yet closed. The new closing deadline for eligible transactions is now September 30, 2010.

 

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Randy Brusven
Silverton, OR

Thanks for keeping me up to date?  Whats the latest on the USDA Rural Home Loan program?  Especially for small towns like Silverton?  Thanks, Randy Brusven.

Jul 13, 2010 05:17 PM
K Ken
Salem, OR

Your welcome Randy,

USDA has not received there funds yet, but Our company is closing them. seeing the funding fee went from 2% to 3.5%, the GUS system for USDA has not been updated as of yet. So they are manually underwriting all USDA loans. Average turn time are about 30 days, but I would write up any offers at 45 days to be safe. Please feel free to send your clients my way.

Have a great day and I will get ahold of you and have coffee soon.

Best regards,

Kevin Kenagy

Jul 14, 2010 03:27 AM
Art Marine
Mortgage Solutions Financial - Lake Oswego, OR
Loans that Fit your Life

The military tax credit extension is a mine field.  Be very careful that everyone that claims it meets the criteria.  The IRS is checking these closely since it was determined that many of those applying did not qualify.

Jul 14, 2010 11:32 AM