Tax Credit Processing Extended

Up to 180,000 buyers who met the contract deadline of April 30 were in risk of not being able to close their loans by July 1. The Senate voted to extend the closing deadline to Sep 30th.

'Safe Act'

Implementation of federal legislation known as the SAFE Act would have made several changes to sellers that offer financing to prospective buyers. At the urging of REALTORS, the commissioner of the Texas Dept of Savings and Mortgage Lending, has taken significant steps to allow Texas property owners to continue to seller finance up to five transactions in a 12-month period.