TAX CREDIT CLOSING EXTENSION

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Yesterday, the U.S. Senate approved a three-month extension to the tax credit closing deadline, which would give buyers until Sept. 30 to close. It is not completely final since it is attached to another bill that still has to be passed by the House.

The extension would apply only to buyers who met the April 30 deadline to have signed purchase contracts. NAR estimates up to 180,000 buyers who were hoping to close by June 30 and get the tax credit are likely to miss the current deadline, so the extension is essential.

Comments

Anonymous said…
. I hope this gets passed this week finally, this is what I'm waiting for to own my first home .
June 21, 2010 at 11:30 AM
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