Long Delays Reported to Receive Homebuyer Tax Credit

CNNMONEY.com recently reported that homebuyers who purchased their homes after November 6, 2009 and are looking to receive their tax credit may be waiting longer than expected.  In fact, some experts are reporting that the delay may be as long as four months!  This is due to some changes which were made by Congress on November 6, 2009 when the tax credit was expanded and extended.    Those changes will now require the homebuyer to file a paper return and provide proof in the form of proof of residency, a signed mortgage statement and a driver's license. 

Previous to the November 6, 2009 law changing, homebuyers were able to e-file and submit amended returns and get their tax credits back quickly.  All of that changed; however, when scammers started abusing the system.  The first person convicted of this crime, was tax preparer, James Otto Price III, who falsely claimed the credit for 15 clients!

To be eligible to receive the tax credit (up to $8,000 for first-time buyers and up to $6,500 for non-first-time buyers) buyers must have a contract of sale signed by April 30, 2010 and go to settlement by June 30, 2010.

All things point...NORTH

With the conclusion of 2009, it's time to quickly reflect on the successes and rewards of the past year.  Our team has grown into a true sales force.  While many of our associates are newly licensed, we are excited to say 20 tenured agents are now experiencing the Weichert Difference.  All in all, our team has seen nearly 40 new faces join together and WEICHERT, REALTORS - New Colony has become one of Howard County's fastest growing real estate companies.

As January 2010 comes and goes, we are reminded of the harsh reality of any business; with success comes responsibility. Weichert welcomes the challenge and looks forward to many new relationships around the corner.  If you are looking for a positive real estate enviornment, look no further.  Pick up the phone and experience the Weichert Difference!