The $8000 tax credit expires on November 30th. I would urge anyone interested in obtaining the credit to close their deal by November 15th to avoid running into the Thanksgiving holiday when title companies and the county recorder’s offices are closed typically for the weekend. I would also urge any first time buyers to stay away from short sales, because they will be difficult to close before the deadline. The current program has helped over 1.4 million people already! The credit is available to first time home-buyers or anyone who has not owned a home for at least three years. Click on www.irs.gov to answer any questions you may have regarding eligibility and to download the correct form to receive your refund. There is growing support to continue the program for at least six months, but there has been no new legislation as of this writing. There has also been some talk of expanding the tax credit to $15,000 and opening it up to all home buyers.
If you or someone you know would like to explore the possibilities, call me, David Wolsky at 520-275-2536. I can pre-approve you on the same day! You can choose between FHA,VA and conventional financing. There is also a program in Arizona to help buyers by foreclosed properties. It’s called, Your Way Home Arizona. My company, PHH Home Loans and Coldwell Banker Home Loans also offers financing for USDA Rural Housing which is a zero down program designed to help buyers in more rural settings.
