This article is thanks to Shannon Collier, Senior Loan Officer, WR Starkey, Mortgage, San Antonio. Shannon's contact information follows the article.
A slew of professionals tied to the housing sector made eager pleas to Congress last week requesting the $8000 first time homebuyer tax credit be extended. The benefit was part of the stimulus plan and is set to expire the end of November. The White House indicated the program “helped the economy” and led to “quite a bit of success” and noted consideration of extending the program. There are additional proposals in the Senate to not only extend the program but also to increase the tax credit and remove the first time homebuyer qualification. Unfortunately the cost to extend the credit is around $1 billion per month. This has politicians from both sides of the isle concerned. The House voted Thursday to extend the credit for American service members another 12 months. Both parties have members pushing for the extension to apply to all purchasers. Analysts indicate some sort of extension is very likely.
Shannon Collier
Senior Loan Officer
12500 San Pedro Ave., Suite 100
San Antonio, TX 78216
Work: 210-545-9300
Fax: 866-703-8734
Cell: 210-725-8470
scollier@wrstarkey.com
http://www.shannoncollier.com/
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