September 24, 2009

Catch It Before It’s Gone...

The clock is ticking and for your benefit, being a first time home buyer, you need to take advantage of this golden opportunity and act extremely fast to meet the deadline to receive the $8000 tax credit offered to first time home buyers by the government. As of July 2009, the lender’s criteria have been updated, which results longer days of close of escrow time. It might expand up to 45 days for closing escrow. That means in order for you to be eligible for the $8000 tax credit, we have to get your transaction started before or by October 15, 2009. Then, we can close the escrow smoothly by November 30, 2009 in time to be qualified for the tax credit.

Right after your escrow day closed, you can contact the IRS to request the Revised IRS Form 5405, First-Time Homebuyer Credit.. It might take you at least 45 days to get response from the office

For more information about first time home buyers benefits, please ask me. I will have the right answers available for you.

Posted by:ANNIE Nguyen