HOMEBUYER TAX CREDIT CLOSING DEADLINE EXTENDED

By
Mortgage and Lending with Evergreen Home Loans NMLS #150073

HOMEBUYER TAX CREDIT CLOSING DEADLINE EXTENDED

From CMLA: After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed.

The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law. CML America worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to the housing market across the nation.

Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Oregon
Groups:
Central Oregon Realtors Plus
Everything Oregon
Moving to Oregon
Portland Oregon Real Estate
Portland Oregon Home Buyers and Sellers

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
73,861

Larry H Morris

Larry Morris, NMLS 150073
Ask me a question
*
*
*
*