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Mortgage tax getting an 400% increase before implementation


               
2012 Jan 29, 9:03pm   1,815 views  2 comments

by Oil Can   follow (1)  

I’m reading several different articles on the new mortgage tax. Both articles have conflicting information, so I’ll cite the articles in the end of my comments and post links. For example, one source says the tax will go into affect by February 17th and the other other one says April 1st. I’ll have better information in the next few days. Also I need to revise my predictions on mortgage rates in the future for 2012, housing issues are changing very fast this winter.

http://northochousingnews.com/news/mortgage-tax-getting-an-400-increase-before-implementation

#housing

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1   lurking   2012 Jan 29, 10:32pm  

Both dates you provide are wrong. It starts on February 29th. As I posted on another thread, If a borrower isn't already locked in and started with the loan or re-fi process, it's probably too late given that there is a holiday in February and in CA anyway, there is a three day right of recission clause so that adds three days to a 30 day closing.

2   Oil Can   2012 Jan 29, 11:29pm  

Lurking,

I was looking for article with the correct date. I can't find it. Can you point me in the right direction?

Thanks,

Mike

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