http://www.chicagolandrealestateforum.com/2010/07/01/senate-approves-extension-to-help-home-buyers-get-their-tax-credit/ New home news and updates about Chicago Real Estate Tue, 22 May 2012 13:29:15 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.chicagolandrealestateforum.com/2010/07/01/senate-approves-extension-to-help-home-buyers-get-their-tax-credit/comment-page-1/#comment-3019 Chicago and Suburban Home Sales Moving Up | Chicagoland Real Estate Forum Thu, 22 Jul 2010 15:28:18 +0000 http://www.chicagolandrealestateforum.com/?p=5514#comment-3019 [...] least we can’t attribute the Federal Home Buyer’s Tax Credit to the increase in home [...] [...] least we can’t attribute the Federal Home Buyer’s Tax Credit to the increase in home [...]

]]> http://www.chicagolandrealestateforum.com/2010/07/01/senate-approves-extension-to-help-home-buyers-get-their-tax-credit/comment-page-1/#comment-2879 Dream Town Realty Fri, 18 Jun 2010 21:08:13 +0000 http://www.chicagolandrealestateforum.com/?p=5514#comment-2879 This is excellent news! Backlogged, busy lenders are only one of the potential roadblocks facing homebuyers trying to close in time to qualify for the tax credit. Because of the current state of the market, properties being sold via short sales and as foreclosures compose a good portion of the current "under contract" numbers. Banks have been notoriously slow in the short sale approval process (taking months and months) and the "red tape" surrounding foreclosures also takes some time to navigate. An extension of the closing deadline for this tax credit is a good thing and will give more of the buyers trying to deal with banks approving short sales and selling foreclosures a better chance at success. This is excellent news!
Backlogged, busy lenders are only one of the potential roadblocks facing homebuyers trying to close in time to qualify for the tax credit.
Because of the current state of the market, properties being sold via short sales and as foreclosures compose a good portion of the current “under contract” numbers. Banks have been notoriously slow in the short sale approval process (taking months and months) and the “red tape” surrounding foreclosures also takes some time to navigate. An extension of the closing deadline for this tax credit is a good thing and will give more of the buyers trying to deal with banks approving short sales and selling foreclosures a better chance at success.

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