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Chattanoooga Metro FHA Loan Limit (Hamilton, Dade, Walker, & Catoosa)=
$271,050 for single family dwellings. Source: https://entp.hud.gov/idapp/html/hicost1.cfm
$271,050 for single family dwellings. Source: https://entp.hud.gov/idapp/html/hicost1.cfm
Arthur Real Estate Services, LLC
P.O. Box 2252
Fort Oglethorpe, Georgia 30742
-Licensed in Georgia and Tennessee
P.O. Box 2252
Fort Oglethorpe, Georgia 30742
-Licensed in Georgia and Tennessee
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NAR Commends Senators for Offering Homebuyer Tax Credit
Extension, Urges Senate and House to Quickly Pass Legislation
Washington, June 11, 2010
The National Association of Realtors® today expressed thanks on behalf of America’s
homebuyers to three Senators for introducing a measure to extend the present home-buyer
tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev.,
and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn.
“As the leading advocate for homeownership and housing issues, NAR commends these
Senators for their attentiveness and sensitivity to thousands of qualified home purchasers,
who through no fault of their own, are not able to meet the closing deadline of June 30 for
the homebuyer tax credit. Now we urge the Senate and the House to act quickly to pass this
legislation and ease the minds and pocketbooks of these homebuyers,” said NAR President
Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.
The measure was offered as an amendment to H.R. 4213, a tax extension bill now in the
Senate.
NAR estimates the number of home buyers who have qualified for the tax credit and met the
contract deadline of April 30, but who would not be able to close their transaction by the
June 30 deadline, could go as high as 180,000. Realtors® have reported as many as one-
third of qualified applicants have been notified by lenders that their mortgages will not close
before June 30 due to the sheer volume of applications in the pipeline.
“These are not buyers who just entered into the market. These are buyers who previously
met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow
jam with the lenders or other delays and might not be able to complete the purchase of their
homes,” said Golder. “It would be a tragedy for them not to be able to complete the
purchase in time to claim the credit.”
Golder said she also wanted to make this clear: “This amendment does not extend the
deadline for home buyers to qualify for the tax credit; it extends the deadline for closing the
transaction, from June 30 to Sept.30. Since these applications were already in the pipeline
and figured into the program’s cost, the extension of the closing deadline should not incur
any further government costs.”
Reprinted from Realtor® Magazine Online {JUNE, 2010} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2010}. All rights reserved.
Extension, Urges Senate and House to Quickly Pass Legislation
Washington, June 11, 2010
The National Association of Realtors® today expressed thanks on behalf of America’s
homebuyers to three Senators for introducing a measure to extend the present home-buyer
tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev.,
and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn.
“As the leading advocate for homeownership and housing issues, NAR commends these
Senators for their attentiveness and sensitivity to thousands of qualified home purchasers,
who through no fault of their own, are not able to meet the closing deadline of June 30 for
the homebuyer tax credit. Now we urge the Senate and the House to act quickly to pass this
legislation and ease the minds and pocketbooks of these homebuyers,” said NAR President
Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.
The measure was offered as an amendment to H.R. 4213, a tax extension bill now in the
Senate.
NAR estimates the number of home buyers who have qualified for the tax credit and met the
contract deadline of April 30, but who would not be able to close their transaction by the
June 30 deadline, could go as high as 180,000. Realtors® have reported as many as one-
third of qualified applicants have been notified by lenders that their mortgages will not close
before June 30 due to the sheer volume of applications in the pipeline.
“These are not buyers who just entered into the market. These are buyers who previously
met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow
jam with the lenders or other delays and might not be able to complete the purchase of their
homes,” said Golder. “It would be a tragedy for them not to be able to complete the
purchase in time to claim the credit.”
Golder said she also wanted to make this clear: “This amendment does not extend the
deadline for home buyers to qualify for the tax credit; it extends the deadline for closing the
transaction, from June 30 to Sept.30. Since these applications were already in the pipeline
and figured into the program’s cost, the extension of the closing deadline should not incur
any further government costs.”
Reprinted from Realtor® Magazine Online {JUNE, 2010} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2010}. All rights reserved.