Mortgage Credit Certificate (MCC) Program

Is any one else trying to get in on this new Mortgage Credit Certificate program, or "MCC"? I am in the process of applying for my mortgage and the Bank I'm dealing with seems completely lost. They are on the approved lender list. I am afraid I am going to lose out on the deal if they can not get their act together soon! Anybody out there familiar with the MCC process?? Any help would be appreciated! Thanks, Michelle

Message edited 9/21/2009 10:15:07 PM.

Re: Mortgage Credit Certificate (MCC) Program

We're going through it right now actually... we'e dealin with wells fargo in melville and they just got trained on it a few days ago... so its slowly working its way into the system...

We were told that we're def going to get it before our closing so no worries... let me know if you want to go with them instead, i'll give you the contact info of the person i've been dealing with.... she has been great thus far!

Re: Mortgage Credit Certificate (MCC) Program

I know that continental home loans offers the program and I have been dealing with Pat Marabella there who is great and seems to have his stuff together

Re: Mortgage Credit Certificate (MCC) Program

Thanks for the advice guys! My Bank is still looking into it, so hopefully they figure it out soon. If not, I will let you know.

Do you know how long it takes for sonyma to approve once they receive an application? I assume they need some time to review and approve, I want to make sure I have enough time prior to my scheduled closing.

Re: Mortgage Credit Certificate (MCC) Program

Not sure if you all know, but if you have not already reserved a spot in the MCC program, it is too late now. They abruptly stopped accepting new participants yesterday at 5pm, unless you are moving to a Federally-designated "target area" (for Nassau County, the only target areas are specific parts of Freeport, Hempstead, Island Park, Long Beach, and Glen Cove).

Here is the official announcement:

MCC Announcement

Sorry if anybody missed out who wanted to get in

Re: Mortgage Credit Certificate (MCC) Program

As stated by Miguelito's response below, the MCC credit is now over except for Military and Veterans. The money has all been spent and is now done. If you have not already secured a spot with them, I believe you will be out of luck. There was only a set amount of dollars set aside for this program and they have all been used up. For those of you who were lucky enough to get in on this, you really lucked out especially if you got the $8000 credit as well.

Re: Mortgage Credit Certificate (MCC) Program