First Time Homebuyer Tax Credit Closing Deadline Extended!by Evelyn Krazer on 07/06/10
The deadline for tax credit closings has finally been granted an extension. The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.