Deadlines Are Fast Approaching For Jersey Shore Real Estate Buyers

Buy or Refinance Your Jersey Shore Real Estate NOW!!

1.  Home Buyer Credit Act

  • DEADLINE: April 30, 2010 (June 30th with a signed, binding contract).
  • ELIGIBILITY: First-time buyers and repeat buyers (those who have owned and lived in one residence for 5 consecutive years of the last 8).
  • INCOME LEVELS; $125,000 individual and $225,000 for couples.
  • PURPOSE Allows buyers of Jersey Shore real estate to receive a tax credit (which may be claimed on this year’s taxes) of $6500 to $8,000.

***Remember that a tax credit is a dollar-for dollar reduction in what a taxpayer owes. If the credit exceeds the amount owed, a refund will be issued.

2. Home Affordable Refinance Program (HARP)

  • DEADLINE: June 2010
  • ELIGIBILITY: The mortgage loan on your Virginia Beach property must be owned by Fannie Mae or Freddie Mac and owner occupied. Property may include 1 to 4 units. Current mortgage must be paid current and up to date. Loan-to loan value cannot exceed 125% (previously 105%).

  • PURPOSE: To extend underwriting guidelines so as to allow “underwater” mortgage holders (those with loan balances which exceed the value of their Jersey Shore real estate) to avoid foreclosure.

Search all Jersey Shore real estate and homes for sale.

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
This entry was posted in Bradley Beach Information, Buyers, Financing, jersey shore real estate, Real Estate News and tagged , , , . Bookmark the permalink.

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