Congress voted to add the Tax Credit & National Flood Insurance Program extension for the required closing date on pending contracts written prior to April 30, 2010 so buyers can still receive the $8,000 tax credit. The National Association of Realtors is going to bat for the home buyers that are purchasing bank owned homes and short sales that are taking longer than 60 days to close. It was a great success and proof that hard work pays off. Home buyers that went under contract by April 30th and will qualify to receive that Tax Credit now have until September 30th, 2010 to close on their deal. It is projected that this extension will help over 150,000 home buyers!
Keep in contact with your representatives and make sure we get this tax credit extended. This is the first hurdle to get the extension put on HR 4213. The bill still needs to receive 60 votes to pass.
