Tax Credit Extension Passes

The extension is included in the Home Buyer Assistance and Improvement Act (H.R. 5623) and will prevent as many as 180,000 home buyers from losing their eligibility for the tax credit through no fault of their own. These households had home purchase contracts pending as of April 30 and had until June 30 to close on their purchases to claim the federal tax credit. Under the legislation that passed last night, these households now have until September 30 to close.

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4 Responses to Tax Credit Extension Passes

  • Joe Thomas says:

    That’s great news. It’s too bad congress took so long to get this passed. A lot of home buyers were panicking because their escrows weren’t (didn’t) close on time. We’ll all sleep better once Obama signs the bill and it becomes effective. Has Obama signed it yet?

    • miguelsworld says:

      Tell me about it!! It was crunch time at the office making sure all files where clean and ready to close. As some of our clients had approved short sales purchases and could not get things done fast enough but now we are able to still provide them with a closed sale and a full 8K credit. Now for Obama to sign that should be done asap!

  • And don’t forget about the tax credit extension for our Military personnel that is extended to April 30, 2011. I just wrote about it on my blog. As more of our service members come home they need to know about this. Combine that with VA’s 100% financing and buying a home is a no brainer. I like what you are doing online…..good job!

  • miguelsworld says:

    Great stuff bud I appreciate you helping spread the word!

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