SUPPORT REAL ESTATE HOMEBUYER'S TAX CREDIT EXTENSION

Notice from the American Land Title Association:
Help support an extension of the homebuyer tax credit closing deadline!
Ask your Senators and Representative to support an extension of the present home-buyer tax credit closing deadline from June 30, 2010, to September 30, 2010. Consumers who have entered into contracts to purchase a principal residence on or before April 30, 2010, and who have complied with all eligibility requirements, should receive the benefits of the homebuyer tax credit.
ALTA members report that in the markets with the highest volume of short sales, it is not uncommon for closing to take up to four months. The two month window afforded by the homebuyer tax credit is simply not long enough for current market conditions in the most severely distressed markets in the country. Many of the pending short sale transactions in the slowest markets may turn into foreclosures if they cannot close by the June 30 deadline. The National Association of REALTORS® estimates that between 55,000 and 75,000 prospective buyers may be unable to close by the current deadline.

Help support an extension of the present home-buyer tax credit closing deadline to September 30, 2010, for eligible borrowers by writing to Congress today!