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The Senate is expected to take up a bill this week that would extend the deadline for tax-credit closings by up to three months. The bill would not allow new buyers into the program, but would give an extension of the closing deadline to those already under an agreement of sale. The bill seems to have support from both sides and is sponsored by Majority Leader Harry Reid and co-sponsored by Republican Johnny Isakson and Democrat Chris Dodd. The National Association of Realtors says that up to 180,000 buyers may be affected by the approaching deadline.
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