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Will Tax Credit Closing Deadline be extended?

June 11, 2010

According to the AP as written in this USA Today article, http://www.usatoday.com/money/economy/housing/2010-06-10-home-tax-credit_N.htm Congress is working on an extension of the June 30th deadline for the Home Buyer Tax Credit.  The date to buy a home ended on April 30, 2010 but a purchaser needs to settle on the home by June 30th.  Due to the lenghthy process of dealing with lenders on short sales, many are concerned they won't be able to complete the transaction by June 30th.  Without Capitol Hill's intervention, many people would miss out on the $8,000 or $6500 tax credit.

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