Posts tagged ‘home buyers tax credit’

Extended deadline for home-buyer tax credit close to approval

 Home buyers tax credit amendment

The House of Representatives passed the Homebuyers Assistance and Improvement Act on Tuesday to extend the deadline for the home-buyer tax credit, which would give buyers who have purchase contracts in place three more months to close on the sale. The measure still awaits final approval in the Senate.

The deadline for closing was June 30th, and it is estimated that nealy 180,000 buyers will miss out on the $8,000 credit because they are unable to close as of midnight tonight. To have been eligible, buyers needed to have a contract in place by April 30, and that won’t change through this new extended legislation. The extension would give buyers an additional 3 months to close on their loans.

The downside to the extension is that it now opens the door for some unscrupulous parties involved to possibly back-date contracts in order to take advantage of the $8,000 first -time credit or the $6,500 repeat buyer credit.

July 1, 2010 at 1:00 am Leave a comment

EXIT Realty Educates the Public in Free Webinar!

 On Tueday June 8th, Exit Realty will be hosting and broadcasting a FREE webinar, Entitled “Real Estate After April 30th (when the $8,000/$6,500 home buyer tax credits expired) – What Now?”

http://www.realestateindustryleaders.com/public/item/255142

There will be Two Free Sessions, one at 4 PM and the second at 7 PM. All you need to do is click on https://www2.gotomeeting.com/register/914090834 for the 4 PM session,

or https://www2.gotomeeting.com/register/543685610 for the 7 PM session. Register with go2meeting today!

 

June 4, 2010 at 2:21 pm Leave a comment


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