Congress extends tax credit closing deadline to September 30

Late on June 30, the National Association of REALTORS® (NAR) reported Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623).

According to NAR:

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 will be no gap between June 30 and the date the President signs the bill into law. 

NAR 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 real estate markets across the nation. 

Learn more at the REALTOR® Action Center.

2010-07-01T08:18:59+00:00July 1st, 2010|Housing Market, Government Affairs|6 Comments

About the Author:

Ann Londrigan is Vice President of Member & Association Engagement for the Illinois REALTORS®.

6 Comments

  1. […] This post was mentioned on Twitter by IL Assn of REALTORS, Tim McDonald and Jim Bushart. Jim Bushart said: This could help a few folks. http://lnkd.in/svsF_t […]

  2. […] This post was mentioned on Twitter by IL Assn of REALTORS, Tim McDonald and Jim Bushart. Jim Bushart said: This could help a few folks. http://lnkd.in/svsF_t […]

  3. Zipporah July 1, 2010 at 2:06 pm

    This is great news for those that signed on time but were close to missing out on the credit. According to NAR, that’s over 7,000 people in Illinois. However, I think now it’s time to stop the extensions, etc., and see what the housing market will do on its own!

  4. Zipporah July 1, 2010 at 2:06 pm

    This is great news for those that signed on time but were close to missing out on the credit. According to NAR, that’s over 7,000 people in Illinois. However, I think now it’s time to stop the extensions, etc., and see what the housing market will do on its own!

  5. Jackie Medows July 1, 2010 at 10:49 pm

    Thank you RPAC!!!

  6. Jackie Medows July 1, 2010 at 10:49 pm

    Thank you RPAC!!!