Extension of Tax Credit Closing Deadline in the Works

Senate Majority Leader Harry Reid (D-Nevada) wants to tack three extra months onto the closing deadline of the homebuyer tax credit, in order to ensure buyers who have already signed contracts are able to take advantage of the federal tax break. Reid, along with Sens. Christopher Dodd (D-Connecticut) and Johnny Isakson (R-Georgia), has introduced an amendment to a jobs and tax bill currently under consideration by the Senate that would extend the tax credit deadline for closing on a home purchase to September 30. The current deadline is June 30.

Link to the rest of the article: http://tiny.cc/4i7os