From Jim Contrini: If you're a first time home buyer who scrambled to get into escrow by April 30, 2010 to receive the First Time Home Buyer Tax Credit and are struggling to close your loan before the June 30th, 2010 deadline, you may be relieved to know the Senate just approved an extension of the June deadline. Once the House and Senate reconcile and pass the same bill, you will be able to close anytime before September 30, 2010 to receive your $8,000 Tax Credit. About 180,000 homebuyers who already signed purchase contracts before April 30, 2010 would otherwise miss the deadline. The National Association Of Realtors estimates that one-third of qualified applicants have been notified that they will be unable to close by the deadline. The proposal approved by a 60-37 vote will help many First Time Home Buyers still receive the Tax Credit. “It would be wonderful for the House to sign the bill A.S.A.P in order to give comfort for those home buyers that were stressing over closing by the deadline” says James Contrini, CEO of Homebuyerrebate.org Mr Contrini adds “This is good news for all First Time Home Buyers who are stuck in slow going escrows that may not be able to close by the June 30, 2010 deadline. This is partly due to people scrambling to get into escrow before April 30, 2010 and lenders being backed up trying to close loans by the June 30, 2010 deadline. The Mortgage Bankers Association says delays are caused largely by the volume of transactions” “The House still needs to pass the bill and it will offer peace of mind to the home buyer and coupled with our realtor/broker rebates up to $15,000, the home buyer can maximize their capital for the closing” James Contrini comments. |
Monday, June 28, 2010
Senate Approves Home Buyer Rebate Extension
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