The effort to extend the tax credit closing deadline was beginning to feel like the Hokey Pokey between the House and the Senate. The Senate approved the bill to extend the tax credit after it was untangled from the jobs bill.
It’s all about working together … That’s what it’s all about!
The journey to extend the deadline was a long and winding road failing three consecutive efforts. Tax Credit Extension Dies on the Senate Floor. However, on July 2, 2010 President Obama made it official … not the Hokey-Pokey … President Obama signed the bill which extends the closing deadline for the homebuyer tax credit.
The Homebuyers Assistance and Improvement Act of 2010 extends the closing deadline from June 30, 2010 to September 30, 2010. Qualified buyers who were in contract by April 30, 2010 to purchase a home will have three additional months to close the transaction and take advantage of the tax credit.
“What a great way to begin celebrating our nation’s most patriotic holiday by opening the door to the American dream of homeownership to thousands of home buyers who would have been shut out of the homes of their dreams through no fault of their own,” said Vicki Cox Golder, president of NAR – National Association of Realtors.
Copyright © 2010, All Rights Reserved by Kathleen Daniels
*Extension of Tax Credit Closing Deadline Approved by Obama *Tags: San Jose short sale specialist, Tax Credit