If you are a first-time-homebuyer and are counting on the $8000 tax credit with your purchase (double check with your lender on your eligibility and if you are eligible for the full amount),
check in with your lender and ask if his/her office/broker is making any disclaimers on their ability at this point in time to close your loan on or before 11/30/09 (currently people are lobbying to extend the date,but it hasn't been extended as of today).
check in with your lender and ask if his/her office/broker is making any disclaimers on their ability at this point in time to close your loan on or before 11/30/09 (currently people are lobbying to extend the date,but it hasn't been extended as of today).
I spoke with one lender yesterday whose company is sending out a disclaimer to buyers who they are working with, saying that the lender isn't liable if their loans don't close on or before 11/30/09. Why would a lender send out such a note? Things can happen that prevent settlements from closing and/or the loan from closing on the date of the proposed settlement.
The lender is protecting him/herself from potential claims/ law suits, if any first-time home decide to seek an $8000 claim from lenders (if 11/30/09 comes and passes and settlement on their new home hasn't occured). This is a good business move by the lender to cover him/herself. Will other lenders send out such a disclaimer to their clients? I would not be surprised. Lenders of course want your business. This lender is just making a disclosure the way home sellers make disclosures/disclaimers about their homes before buyers make a decision whether to go forward and make an offer on the home or to continue their home search.
I am meeting with buyers tonight to look at homes in Potomac and Rockville Maryland tonight. I will also discuss how a possible solution for them, if settling doesn't occur on or before 11/30/09. I also have a great strategy for sellers to make their homes more attractive to first-time homebuyers.
I believe at looking challenges in the eye and being solution oriented. If that is what you are looking for, let me know. It would be a priviledge to work with you and or be referred by you to someone you know who is buying or selling a home.
Happy Settlements!
Life is good!
Adam
301-943-4370
Adam Bashein
Licensed in MD & DC
Weichert Realtors
7821 Tuckerman Lane
Potomac, MD 20854
301-718-4100 ext. 132
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