USDA - FUNDING UPDATE

As of last Thursday May 13th, USDA Rural Development stopped underwriting/issuing commitments on all loans. (All underwriting Depts Bankers/Brokers, etc send to RD for underwriting for approval.)

(I just got two RD loans closed this month right under the wire!) :)

I would expect funding to be allocated from ...congress soon. Updates will follow as more information comes available.

Kyle's Tip for REALTORS

Tax Credit extension for Veterans - get the FACTS!

Tax Credit Dates For Veterans Until 2011.

When HR 3548 - Tax Credit Extension for First-timers and repeat buyers was extended, there was a special rule for Members of Armed Forces.

Who qualifies:

1. Member of "uniformed" services
2. Member of Foreign Service of US
3. Employee of Intelligence Community

If they had Extended Duty (defined as "official orders outside the United States for at least 90 days during the period of 21-31-08 to May 1-2010.")

What they get: Tax credit date extended!!!!:
Sign contract by April 30, 2011. Must close by June 30, 2011.

A couple of marketing tips:
1. write an article for your local newspaper and attract VA Buyers
2. if you have any military bases in you state, may want to take out ads in the "base newspapers\" or even submit the same article the you would submit to newspaper.

Check out Realtor Becky Parker's Tip on her TV Show

Weekly Tip

Many REALTORS don't realize...

Many REALTORS don't realize that you do NOT need short sale approval prior to 4/30/10 to qualify for the tax credit. Why? The bank is NOT the seller & doesn't sign the buy/sell agreement. As long as the homeowner (the only seller in a short sale transaction) and the buyer sign before 4/30/10, you're good to go! Of course you’ll need to close by 06/30/2010

USDA Rural Housing

Hearing some great things about Rural Development, here is the latest bill that is going in front of Congress

Click below:
http://www.box.net/shared/sxgtaxuv0v