Of course we all have.
How about “I am sure the government will take care of it in time”?
Nope, not me. Haven’t heard that one. How about you?
The reason that I bring this up is that there does not seem to be enough momentum to get an extension of the $8000 first time homebuyer tax credit passed. This means that that at the end of business on November 30, if your home is not closed, you are out eight grand. Cash.
So now is no time to make a watered down marketing statement. So here is the straight deal.
If you are going to buy a home and want to close by November 30, you have no chance of getting approved if you work with a mortgage broker. You must work with a Mortgage Banker that is lending their own funds.
If you don’t, you will be victimized by the swarm of people looking to get in prior to the deadline and make sure they get the credit. The banker has the ability to move more quickly through the loan process, makes their own underwriting decision and then get you to the closing table on the stop of a dime.
Consider yourself warned.
