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Tax Credit Extension (for those under contract)
June 17, 2010 by Jim Ludes · Leave a Comment
The Senate has approved a plan to give those already in contract to purchase a home an extra three months to be able to use federal homebuyer tax credits. The language, pushed through the chamber by Senate Majority Leader Harry Reid gives homebuyers 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. The proposal was approved by a 60-37 vote but only applies to consumers who already have signed contracts to finish at the later date. About 180,000 homebuyers who already signed purchase agreements would otherwise miss the deadline.
Would this apply to any of my readers?
"Small town values- BIG TIME results" isn't just a catch-phrase for Jim Ludes. For him, it's a way of life in and outside of real estate. "I was raised in Lockport at a time that it wasn't much more developed than the Coal City/ Diamond area is now. I spent seven years in a class with the same 30 kids. You learn pretty quickly in that environment how to treat people the right way," he admits. As for the other half of the slogan Ludes begrudgingly admits, "You have to brag a little bit in the business or people tend to forget you're in it. I've been a multi-million dollar producer for over 5 years and I believe that's a testament to the hard work I put forth with each and every client."