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celloshred
2864 Posts |
 Posted - 11/05/2009 : 2:45:36 PM
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To qualify for the $6500 program for existing homeowners for step-ups, whats the earliest they could have purchased the home?
I have a client that just closed on a home 10/30.
DO they qualify based on the date?
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nowbroker
2588 Posts |
Posted - 11/05/2009 : 2:52:58 PM
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My understanding is closing on or after Dec 1st for existing homeowners.
My question on this program is if there is a contract date requirement- what about all the deals that were written last month and borrowers want to delay closing now until Dec 1st? This could be a mess with locks and pipelines. |
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The Truth
178 Posts |
Posted - 11/05/2009 : 2:56:28 PM
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| no doubt... it a good thing that move up buyers aren't actually buying anything .... |
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celloshred
2864 Posts |
Posted - 11/05/2009 : 3:10:58 PM
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My last two closings were stepup buyers.
If I were scheduled to close this month I would delay it to 12/1. Give the seller some extra $ and profit the difference. |
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