Home Buyer Tax Credit Deadline

If you’re not under contract to purchase a home already, don’t get too excited… There isn’t a new opportunity to qualify for the tax credit, BUT if your home purchase contract was official before the April 30 deadline and you haven’t been able to close the deal yet, congress just bought you a little more time.

It appeared touch-and-go for a while, but at the 11th hour, lawmakers passed an extension that gives buyers an extra 60 days to close. This is good news in a day and age where contracts seem to be taking longer and longer to close. It’s also good news for housing markets that are still limping through a slow recovery.

For more details, check out the story from the LA times.

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