2809 Hampton Court in Richardson, TX in Plano ISD
(June 30) 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. For more information, go to http://www.realtor.org/government_affairs
The United States House of Representatives has just passed HR 5623, the Homebuyer Assistance and Improvement Act of 2010, by a vote of 409-5. This bill extends the deadline for closing tax credit eligible transactions from June 30 to September, 30, 2010. The bill moves to the Senate where the outcome is much less certain. NAR will continue to update you as the events move forward.
Should Congress extend the date, information will be posted on www.realtor.org/government_affairs as soon as it happens.
The final outcome will be posted on www.realtor.org/government_affairs on July 1, 2010.
The United States House of Representatives has just passed HR 5623, the Homebuyer Assistance and Improvement Act of 2010, by a vote of 409-5. This bill extends the deadline for closing tax credit eligible transactions from June 30 to September, 30, 2010. The bill moves to the Senate where the outcome is much less certain. NAR will continue to update you as the events move forward.
Should Congress extend the date, information will be posted on www.realtor.org/government_affairs as soon as it happens.
The final outcome will be posted on www.realtor.org/government_affairs on July 1, 2010.
NOTE that this law went into effect March 1st and applies ONLY to loans backed by Fannie Mae. From the C.A.R. Newsline issue emailed on 04 March 2009:
“NO MORE COMMISSION REDUCTIONS FOR FANNIE MAE SHORT SALES
Fannie Mae loan servicers no longer can require real estate brokers to reduce their commissions as a condition to a short sale approval. The new policy was effective March 1. According to Fannie Mae, the closing of a pre-foreclosure sale cannot be conditioned upon a reduction of the real estate commission to a level below what the listing agent and borrower negotiated. An exception applies if the total commission is more than 6 percent of the sales price.“This good news may be tempered by the difficulty for REALTORS® to ascertain whether the underlying loan in a short sale transaction is a Fannie Mae loan. REALTORS® may wish to ask the lender or loan servicer whether the loan is a Fannie Mae loan, and to consider submitting the Fannie Mae Announcement to the lender with the short sale package.
“For a copy of Fannie Mae’s Announcement 09-03 (Servicing Guide, Part VII, section 504.02), go to https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0903.pdf. For a list of Fannie Mae lender partners in California, go to http://www.fanniemae.com/flApplication/fanniemae/findLender.jsp?p=Find+a+Lender+Search/.”
SELLERS & AGENTS: If you want to find out if your mortgage loan is backed by Fannie Mae call 1-800-7FANNIE (732-6643) from 8am to 8pm EST. For Freddie Mac info call 1-800-FREDDIE (373-3343).
Sellers, if you want to sell your home instead of letting the bank forclose on your mortgage loan, please contact me and I can guide you in the right direction. I can educate you about the short sale process and recommend a great agent in your area!
Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice
Regina P. Brown
Broker, Realtor®, e-Pro
Author of eBook “Stop Foreclosure Fast: Solutions to Save your House“Text copyright © 2009 R.P. Brown, All Rights Reserved
Regina P. Brown
Broker, Realtor®, e-Pro
Join & post to my NEW ActiveRain group at http://activerain.com/groups/virtualoffice
Text copyright © 2010 R.P. Brown, All Rights Reserved
NAR is working very closely with key Members of Congress and the Senate, and Senior Congressional Staff on two issues of critical importance to the membership: an extension of the June 30, 2010 deadline for closing contracts eligible for the Homeowner Tax Credit, and a reinstatement of the National Flood Insurance Program.
Here are the latest details on the Tax Credit Closing Deadline:
Our best advice to members with questions and concerns is to proceed as if the June 30, 2010 date is binding.
NAR is pursuing all possible options with senior congressional staff to determine what other legislation may be available for passing a June 30 extension. Each of the possible options face difficult obstacles, but NAR’s efforts to clear the way are on going.
Senate voting on the Tax Credit Extension deadline has been moved to the week of June 28, 2010.
Should Congress extend the date, information will be posted on www.realtor.org/government_affairs as soon as it happens.
The final outcome will be posted on www.realtor.org/government_affairs on July 1, 2010.
Here are the latest details on the national Flood Insurance Program:
The consideration of H.R. 5569 (National Flood Insurance Program Extension Act of 2010) has been moved to the week of June 28, 2010.
NAR is working with Senate leadership in both parties to urge the Senate act quickly to pass H.R. 5569.
NAR is working very closely with key Members of Congress and the Senate, and Senior Congressional Staff on two issues of critical importance to the membership: an extension of the June 30, 2010 deadline for closing contracts eligible for the Homeowner Tax Credit, and a reinstatement of the National Flood Insurance Program.
Here are the latest details on the Tax Credit Closing Deadline:
Our best advice to members with questions and concerns is to proceed as if the June 30, 2010 date is binding.
NAR is pursuing all possible options with senior congressional staff to determine what other legislation may be available for passing a June 30 extension. Each of the possible options face difficult obstacles, but NAR’s efforts to clear the way are on going.
Senate voting on the Tax Credit Extension deadline has been moved to the week of June 28, 2010.
Should Congress extend the date, information will be posted on www.realtor.org/government_affairs as soon as it happens.
The final outcome will be posted on www.realtor.org/government_affairs on July 1, 2010.
Here are the latest details on the national Flood Insurance Program:
The consideration of H.R. 5569 (National Flood Insurance Program Extension Act of 2010) has been moved to the week of June 28, 2010.
NAR is working with Senate leadership in both parties to urge the Senate act quickly to pass H.R. 5569.
The Senate has approved an extension of the Tax Credit to September 30, 2010. This extension will apply to homes which were already under contract by the April 30th executed contract deadline, and will not include a window to put more homes under contract to qualify for the credit.
The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
Luggage Free
Air travel these days is bad enough without having to spend three figures for the privilege of taking luggage, only to have the airlines lose it for you.
Enter Luggage Free, a service that ships luggage to anywhere in the world, saving you the, uh, baggage that often accompanies your baggage.
Simply fill out the online form and arrange for a Luggage Free representative to pick up your items from your home, office, hotel or cruise ship. (You don’t even have to be present when they arrive).
When you arrive at your destination, bypass baggage claim (and, for international travel, customs) and go straight to your hotel or home, where your bags will be waiting for you.
The service is priced based on a per-pound rate instead of a weight range, with priority overnight options available for most major cities. (Fifty pounds of luggage will cost you $50, which is reasonable these days).
A handy on-site feature estimates the cost of common items like bikes, skis and golf bags based on origin and destination points.
In terms of logistics, an in-house team tracks your bags along their route, alerting you by e-mail when your belongings arrive. When your trip is over, simply schedule a return pick up (if you haven’t done so already) and the entire process is reversed.
All shipments are insured for up to $1000, with additional coverage available up to any amount.
With service like this, the only stress during your travels will be whether or not the sales guy in the seat next to you will turn the pages of his Grisham novel too loudly.
– from Netted, by the Webbys
Photozini
I love this idea as a gift for the “tweenie” in your life: upload digital photos, and print them out in magazine format. Too cool!
Angie Stephens
179 N. Plano Road
Richardson, TX 7581
(469) 236-9899
