Making sense of the Financial Regulations Bill for Buyers

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Last week’s blog posts pretty much focused on the homebuyer tax credit’s closing deadline. We did our absolute best to deliver the latest news as it happened. Let’s review last week’s posts:
Saturday:
“GUEST POST: ‘All Right! The Deadline Has Been Extended!‘”:
All right! The deadline has been extended to September 30! I work in mortgage banking and have been working [...]

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Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

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UDATE3: President Obama signed a three-month extension of the homebuyer tax credit’s closing deadline this morning.
The president also signed into law the “National Flood Insurance Program Extension Act of 2010,” reports HousingWire.com.
Lawmakers weren’t able to agree on the extension of unemployment benefits before their July 4 recess; they’re expected to continue their debate when they [...]

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The Senate passed the bill extending eligible closings to Sept. 30, so buyers who were in contract by April 30 can get the tax credit.

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Recently, Bank of America sent out nearly 100,000 solicitations to distressed homeowners offering them a chance at a deed-in-lieu transaction.

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With the pending expiration of the homebuyer tax credit about 36 hours away, we’re getting closer and closer to seeing what the true state of the housing and real estate markets will really look like when the credit is no longer in place.
**Poll: Do You Support the Extension of the Homebuyer Tax Credit’s Closing [...]

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Get the latest appraisal news and analysis.

Appraisal Foundation, Appraisal Institute In Dispute

House Offer Includes Sunset of HVCC

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