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Old 10-12-2009, 05:28 PM
 
181 posts, read 694,237 times
Reputation: 85

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I am first time buyer. I just made an offer on an approved short sale house. The seller's bank said it would take 2 more weeks to finalize it. It means I only have 30 days to get a loan if I don't want miss the first time buyer credit. How can I get mortgage within 30 days? THANK YOU FOR YOUR HELPS!!
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Old 10-12-2009, 05:39 PM
 
861 posts, read 2,707,621 times
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I always thought short sales took significantly longer to gain a commitment for....?

But I would not stress. There is a lot of talk about extending the credit:
House Votes to Extend First-Time Home Buyer Tax Credit for Service Members - The Home Front (usnews.com)
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Old 10-13-2009, 12:11 AM
 
181 posts, read 694,237 times
Reputation: 85
Quote:
Originally Posted by HeatherLynn822 View Post
I always thought short sales took significantly longer to gain a commitment for....?

But I would not stress. There is a lot of talk about extending the credit:
House Votes to Extend First-Time Home Buyer Tax Credit for Service Members - The Home Front (usnews.com)
I hope they will extend the credit. In the meantime, I will work hard to meet the dealine. How? Thank you
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Old 10-13-2009, 04:28 PM
 
Location: Plano, Texas
1,673 posts, read 6,997,921 times
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The House passed a bill extending the credit but only for veterans. You must have served overseas for at least 90 days during 2009 to qualify. If you do, the credit is extended for 6 months.

Looks like everyone else has until the end of November.
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Old 10-14-2009, 02:00 AM
 
181 posts, read 694,237 times
Reputation: 85
Who can tell me which bank can give the mortgage fast? Thank you.
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Old 10-14-2009, 10:00 AM
 
Location: MN
761 posts, read 3,402,650 times
Reputation: 447
Quote:
Originally Posted by VictorBurek View Post
The House passed a bill extending the credit but only for veterans. You must have served overseas for at least 90 days during 2009 to qualify. If you do, the credit is extended for 6 months.

Looks like everyone else has until the end of November.
Do you have a link for this?
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Old 10-14-2009, 10:19 AM
 
181 posts, read 694,237 times
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Quote:
Originally Posted by Norsky1 View Post
Do you have a link for this?
I have the link. I browsed online. I don't think the bill can pass. Thank you!
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Old 10-14-2009, 11:32 AM
 
Location: Denver, CO
3,135 posts, read 11,806,618 times
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You won't make it with a short sale. I would just contact Wells Fargo or even better, a couple local banks.
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Old 10-14-2009, 12:42 PM
 
181 posts, read 694,237 times
Reputation: 85
[quote=PokerMunkee;11184537]You won't make it with a short sale. I would just contact Wells Fargo or even better, a couple local banks.[/quo

I will. It's an approved sale. I just need to know where to get a quick loan. Thank you.
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Old 10-14-2009, 12:50 PM
 
Location: Hampton Cove, AL
692 posts, read 1,493,942 times
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Personally I would start calling brokers and ask if they can get it done, and keep calling until you are confident that you have the right broker for you.

The only time we had to close quickly, due to relocation, we used a broker and we were able to close in just over two weeks(I think it was 16 days).

Good luck in your first home.
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