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Extension of Tax Credit for Homebuyers approved by House and Senate – next stop President’s signature.

The extension for the Tax Credit was approved by the House and Senate this week.  The next stop is the White House for the President’s signature.  Under the proposed extension homebuyers will have until September 30 to close on their homes.  This bill helps only those who have been under contract since April 30 and is for both existing homeowners and new homebuyers.  An estimated 200,000 buyers would have missed out on the tax credit if its current expiration date were to remain.  The President is expected to sign bill early next week.

John McClellan

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