Here is an update on the stimilus bill from Zeke Cancey with Coldwell Banler Mortgage.
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Ken Rutherford,CRS
918-260-9932
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