Great news for buyers who missed the deadline!!!

Late last night, the Senate passed the homebuyer tax credit extension bill, which will extend the closing date deadline until September 30. This will allow first time homebuyers who already had a property under contract to receive an $8,000 tax credit if they close before the deadline. The bill also extends the closing deadline to September 30 for qualified existing homebuyers with a property under contract.

Although this bill will not help buyers currently looking for a home, it is great news for many people who already had a property under contract and were unable to close their transactions by June 30, the previous deadline. The bill is on its way to Obama and he is expected to sign it.

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