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NAR Lauds Proposal to Extend Tax-Credit Closings
Daily Real Estate News  |  June 11, 2010  |   NAR Lauds Proposal to Extend Tax-Credit Closings The National Association of REALTORS® today expressed thanks on behalf of America's homebuyers to three Senators for introducing a measure to extend the present home buyer tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn."As the leading advocate for homeownership and housing issues, NAR commends these Senators for their attentiveness and sensitivity to thousands of qualified home purchasers, who through no fault of their own, are not able to meet the closing deadline of June 30 for the home buyer tax credit. Now we urge the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these home buyers," said NAR President Vicki Cox Golder.The measure was offered as an amendment to H.R. 4213, a tax extension bill now in the Senate. NAR estimates that approximately 75,000 home buyers of distressed properties who have qualified for the tax credit and met the contract deadline of April 30 would not be able to close their transaction by the June 30 closing deadline. REALTORS® have reported as ... more

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