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Congress Close to Approving Tax Credit Closing Date Extension
Note: This is not yet a done deal. For the amendment to become law, the House and Senate must reconcile their bills.
Homebuyers who took advantage of the $8,000 federal tax credit but are unable to close by the June 30 deadline may have gotten a reprieve yesterday.
On Wednesday afternoon, the Senate approved a proposal to add three more months to the closing schedule of the tax credit program, extending the deadline until September. The extension applies only to sales that went to contract by April 30.
Full story.
Alec Foege, HousingWatch.com, Jun 17th, 2010.