There has been talk of an extension of the federal tax credit being extended. There has been a lot of borrowers who have cried for an extension of the tax credit. Those cries have not fallen on deaf ears. Senator Majority Leader Harry Reid (D-Nevada) is trying to extend the closing deadline until September 30th.
This extension will not allow for any new buying exposure, simply a longer closing deadline for those who are in the process of closing but are not going to make the current June 30th deadline. The National Association of REALTORS has been saying in its reports that there are a large number in this category who would largely benefit from the tax credit.
It is a good idea for mortgage brokers and lenders to follow this extension closely so that you can better help current borrowers who fit into this category.
No comments:
Post a Comment