Home Buyer Tax Incentive Extended

June 17, 2010 at 9:31 pm Leave a comment

The Senate on Wednesday approved a plan to give homebuyers upto September 30 to close on a home instead of April 30 deadline originally planed. The three month extension would allow lenders who are behind on their loan applications to complete the loan. This would also qualify first time homebuyer’s for the $8,000 tax credit incentive.
The move by Senate Majority Leader Harry Reid was approved by 60-37 vote and would allow home buyers who already have signed contracts to finish at the later date. About 180,000 homebuyers who already signed purchase agreements would otherwise miss the deadline.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: , .

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