Homebuyers that were already under contract to purchase a home by April 30, 2010 now are allowed three additional months to close in order to qualify for the homebuyer tax credit; thanks to the U.S. Congress’ amendment and approval of the tax credit bill.

Extending the deadline to September 30, 2010 ensures homebuyers can take advantage of the tax credit by allowing lenders to catch up on the huge volume of loan applications waiting to be processed.

Please keep in mind this extension only pertains to qualified homebuyers with existing contracts – those who were not under contract on or before April 30, 2010 are not eligible to receive the tax credit. Posted by Breckenridge Associates Real Estate on
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