American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

American Land Title Association Urges Congress to Extend Closing Deadline for Homebuyer Tax Credit

June 17, 2010

The American Land Title Association (ALTA) sent a letter June 16 urging legislators to support an extension of the present homebuyer tax credit closing deadline to Sept. 30, 2010.

In order to qualify for the homebuyer tax credit, a buyer must have entered into a binding sales contract on or before April 30, and the transaction must close no later than June 30.

“Despite the real estate settlement industry’s best efforts, it appears that many consumers are at risk of having their transactions not close by June 30,” said Mark Winter, president of ALTA.

Because of the amount of time to process short sales and foreclosures, many consumers may be unable to meet this deadline. This could impact as many as 75,000 prospective, according to the National Association of Realtors. The Senate passed an amendment on June 16, which was introduced by Sens. Harry Reid (D-Nev.), Johnny Isakson (R-Ga.) and Chris Dodd (D-Conn.), that extends the present homebuyer tax credit closing deadline by three months.

“ALTA encourages other legislators to follow the senators lead and support this measure,” Winter said. “It would be unfair to consumers who have met the eligibility requirements for the credit and done all within their power to satisfy the timing requirements, only to forfeit the credit because of administrative challenges related to the transaction.”

Letter sent to senators.

Letter sent to representatives.

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment