Tuesday, June 29, 2010

Tax Credit Closing Deadline - Still Hope for an Extension

Breaking News! - House OKs extension of tax credit closing deadline. However, a vote is still needed by the Senate.First time home buyers bend oregon There is still a chance for an extension of the first time home buyer closing deadline as this vote occured on a stand alone bill. With the incredible influx of buyers, contracts on short sales and high demand on mortgage brokers; many Oregon first time home buyers will miss the closing deadline even though they had signed sales contracts on time. The following was just reported by Innman News:

Still Need Senate voteHouse OKs extension of tax credit closing deadline. In a 409-5 vote, House lawmakers have passed a standalone bill that would extend for three months Wednesday's deadline for closing on a home purchase in order to claim the federal homebuyer tax credit.

The Senate could vote on the bill, HR 5623, as soon as tomorrow, although the death of Sen. Robert Byrd, D-W.Va., has slowed the pace of work in that chamber.

Without an extension, the National Association of Realtors estimates as many as 180,000 homebuyers who were under contract by April 30 may miss the June 30 closing deadline, including 17,700 in California, 15,340 in Texas, 14,830 in Florida and 9,130 in New York.

Read full article.

Posted via email from Central OR Posterous Blog

No comments:

Post a Comment

About Me

Bend, Oregon, United States
Real Estate Broker with Taft Dire LLC We're here to help you navigate this roller coaster ride of a real estate market! Don't spend countless hours researching and sifting through ads to get your real estate answers - let us do the research for you. Email your questions and We'll provide the answers along with the links so you can see it all for yourself. When you are ready to buy or sell your home We'll guide you through the process with the best service and best fees you'll find in Central Oregon - or anywhere else.