Note that the headline says Closing deadline has been extended. In order for you to qualify for the tax credit you were to have had a contract executed on or before April 30. Of course, I’m sure there will be some backdating of contracts going on – and that was one of the arguments extending the closing deadline.
But the impetus for extending the deadline, according to one of the sponsors of the amendment, Sen. Harry Reid D-Nev, is the nation’s lenders have a backlog of 180,000 loans in process trying to close by the end of the month.
Here is the bill HR 4213 if you’d like to read the details.
I’m wondering if this is just throwing another bone to the big lenders our government seems so anxious to please. When I talk to our local lenders in our little bailiwick – nobody seems to be complaining of working too much overtime, or being overly busy.
Would like to know your thoughts.
Tags: government, tax credit
One of the most diverse neighborhoods in Memphis is the Highpoint Terrace area (insert map) repeated phrase in real estate (just because something is said often doesn’t mean it is right) is don’t buy the most expensive house in the neighborhood.
Well that’s hard to do in Highpoint. Hard as in probably only a very small percentage of people in the MidSouth could afford a $1.5MM house (add to map, look in MLS for actives and recent sales in the area for highest). Again, this is one of the great and unique things about Highpoint Terrace. It is a great cross section of socio- and economic backgrounds. And it works beautifully. Streets are full of walkers, joggers and dogs with their owners every morning and afternoon. Some for fitness, some for family time, some visiting neighbors. I invite you to investigate Highpoint Terrace as your next neighborhood – you’re bound to find a price point that works for you.
List a property at the low end and the high end
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