mortgage financing and programs

Archive for July, 2009

Without an Extension The Stimulus Tax Credit is Set to Expire in 5 Months

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The $8000 First Time Home Buyer Credit created as part of the Stimulus Package passed by Congress earlier this year is set to expire 5 months from today. There has been much speculation that the tax credit will be extended, but currently there is no definitive indication that Congress will extend the deadline. Right now the clock is ticking. If you have been thinking about purchasing your first home now is the time to act to ensure you capitalize on the credit. 5 months may seem like a lot of time but when it comes to real estate that is not so. It takes time to find the right home, negotiate an offer that is accepted by the seller, get approved for financing, have all the necessary inspections of the home performed, dot all the I’s and cross all the T’s required, and finally get to the table for closing. So don’t delay, get started today. The best way to get started is by filling out an Chosad loan request form for a pre-approval letter. Having a pre-approval letter helps get the buying process moving because it signals to all parties involved that you are a serious buyer. It also provide leverage in negotiations with sellers.

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