Yesterday Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010. This will provide relief for homeowners, banks and title companies who were struggling to meet the deadline due to the sheer amount of closings.
The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law.
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