For those who are trying to close on a home purchase, good news! Congress has passed an extension of the Homebuyer Tax Credit closing deadline. The extension applies only to transactions that have signed contracts in place as of April 30, 2010 that have not yet closed.
If you were already in escrow and just waiting to close but missed the original June 30 deadline, you now have some more time.
This will be especially great news for anyone who was waiting on short sale approval. If you have a signed contract and you receive the short sale approval before August 30 from the seller's lien holder, you should still be able to close by September 30.
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