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Home »  Forums » For Mortgage Professionals » General Mortgage Discussion » Loans in the Pipeline for the Current $8,000 Tax Credit

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Post Statistics: 444 Views, 1 Replies
Latest Post: Tue, Nov 10 2009 7:50 PM by Amy Buchmeier
  		• Mon, Nov 9 2009 12:14 PM
    • Anonymous
    Loans in the Pipeline for the Current $8,000 Tax Credit
    We have several loans in the pipeline for the current $8,000 tax credit. If these loans are not closed by November 30, will the client still be eligible for the current tax credit?
     
  • In Reply to This Post
    		 Tue, Nov 10 2009 7:50 PM

    Since the bill was extended, you'll have plenty of time to clear the pipeline. The next income limits are only in effect for homes purchased after 11/6/09. The IRS website indicates that the sale contract needs to be complete by the end of April 2010, and the loan closed by the end of June 2010...you should be in the clear.

     

    Best of luck ~

    Amy Buchmeier
    Envoy Mortgage
    Amy Buchmeier
     - View My Profile
    MortgageByAmy
    Become a Premium Member »
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