Homebuyer’s Tax Credit Extended
It’s OFFICIAL!! They finally agreed on something and were able to do something right!
The Senate and Congress has finally sent President Obama a plan to give home buyers an extra three months to qualify for up t0 $8,000 in federal tax credits. Buyers who already have executed contracts prior to April 30th will now have until Sept. 30 to complete their purchases. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
The House approved the measure on Tuesday. Legislation in the Senate was approved Wednesday night by unanimous consent. Talk about pulling a rabbit out of the hat!
Now breathe and relax and make sure that your loan gets closed by Sept. 30th. Also check to see if your Loan Officer is licensed and bonded as it will be a requirement as of July 1st.
