The US Senate has extended the deadline for closing to obtain the Homebuyer tax credit. The actual credit expired in April however parties had until June 30th to close. The June 30th date may be extended to September 30th if the House approves as well.
Usually closings can be accomplished in a couple months. However, if someone is building a home, circumstances such as weather can push the closing back. Also, many lenders are experiencing slowed underwriting turn times because there were so many buyers taking advantage of the credit. Hopefully this will help the short sale negotiations.
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