Thursday, June 17, 2010

Senate OK"s New Tax Credit Closing Deadline

Senate OKs new tax credit closing deadline

The Senate has amended a bill to give home buyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal home buyer tax credit.

Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of 180,000 home buyers nationwide, said amendment sponsor Sen. Harry Reid, D-Nev.


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