HOUSE PASSES BILL TO EXTEND FIRST TIME HOMEBUYER CREDIT.

By
Real Estate Agent with Real Estate Expert. RE/MAX Allegiance, The Ritchie Team

HOUSE PASSES BILL TO EXTEND FIRST TIME HOMEBUYER CREDIT. HR 5263, a bill to extend the tax credit set to expire tomorrow, was passed by house lawmakers in a 409-5 vote.  If passed by the Senate, the bill will extend the tax credit Closing deadline for an additional 3 months.

If the bill fails to pass, the National Association of Realtors estimates that up to 180,000 buyers who were under contract by April 30th and qualified for the credit, would fail to recieve the credit.  Most of these Purchasers are involved in purchases of distressed properties,  whether REO or Short Sales.  Fingers crossed.  More news soon!

 

Posted by

Carter Ritchie, Associate Broker

REALTOR (R), ABR, GRI, ePRO

The Ritchie Team, RE/MAX Allegiance

http://RitchieTeam.com

804.339.5700

       

 

Comments (1)

Barbara Calwhite
Keller Williams Realty of Southwest Missouri - Joplin, MO
417-438-7387 Specializing in Relocation

Yea!!!  That is great news. Let's hope the Senate gets right on it and gets it passed.  Thanks for the update.

Jun 29, 2010 10:54 AM