First Time Homebuyers waiting on loan processing or construction of their new home can breathe a little easier now. Those purchasers taking advantage of the $8,000 Tax Credit who have not closed on their home now have another couple months to close.
With a vote of 409-5, the U.S. House of Representatives passed the extension of the closing date of the U.S. Homebuyer Tax Credit. This extension would give homebuyers who were under contract by April 30th more time to complete their sales.
The National Association of Realtors estimated that as many as 180,000 buyers could have missed out on the credit without the extension because of circumstances beyond their control.
As of late last night (June 30, 2010) the U.S. Senate agreed to extend the closing date for the Tax Credit until September 30th, 2010.
Thanks Uncle Sam!
(Re/Max Times)
