House Backs Tax Credit Closing Extension, But Senate May Not - 06/30/10 05:54 PM
The House has passed a bill to extend a closing deadline for the homebuyer tax credit to Sept. 30, but similar action in the Senate is uncertain. By a 409-5 vote, the House passed a stand-alone bill (H.R. 5623) to ensure homebuyers who are expecting to receive the tax credit are not disqualified because delays have pushed their closing past a June 30 deadline. Under the homebuyer tax credit that expired April 30, first-time buyers had until today (June 30) to close and qualify for the $8,000 tax credit. Repeat buyers are in line for a $6,500 tax credit. The National … (2 comments)

Lawmakers consider home tax credit extension - 06/10/10 06:22 PM
Lawmakers consider home tax credit extension Lawmakers consider giving homebuyers 3 more months to finish sales and qualify for tax credit
WASHINGTON (AP) -- Homebuyers may get an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.
Senate Majority Leader Harry Reid, D-Nev., said Thursday he wants to give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
The proposal would only … (1 comments)

USDA rural housing update - 06/02/10 04:46 PM
Washington, DC - U.S. Rep. Rubén Hinojosa (TX-15) was informed by the United States Department of Agriculture (USDA) that Secretary Tom Vilsack has authorized the issuance of Conditional Commitments for USDA's Section 502 Single Family Housing Guaranteed Loan Program beginning immediately and continuing until $2.5 billion in loan limit is exhausted.     Hinojosa, Chairman of the Congressional Rural Housing Caucus, has been requesting additional funding from Congress for the program or for additional commitment authority from USDA upon learning that existing Section 502 commitment authority would be exhausted by the end of April or May of this year.     … (2 comments)

 
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