Just found this out.  Great news for members of the military and government employees!

Military Extension for Tax Credit

I just came across this article from the National Association of Realtors. It explains how the U.S. Treasury offers borrowers alternatives to foreclosure. Two key points are that the lenders have to use standard processes, documents and timeframes, which in theory, should speed up the short sale process. Most importantly, this program requires that borrowers be fully released from future liability for the first mortgage debt. The lender cannot ask you the borrower to contribute any cash, sign a promissory note, or file a deficiency judgement. This is great news for home owners who are unsure whether they want to short sale because of the ramifications. Now they don't have to worry about it. This program goes into effect on April 5th, 2010.
You can read the full article here:

 www.realtor.org/government_affairs/short_sales_hafa

I just got a great article from Cory Miller, our Mortgage Broker.  Anyone who is thinking about buying a home this year may want to read this.  It is very interesting. 

Basically, the tax credit and other incentives to buy will end after the first quarter of 2010.  This means that in the long run, you could actually be paying more for a home!

 Here is the link:  http://www.allaboutnews.com/vc.php?a=y&b=53&i=354&u=corym