Tax Credit Deadline
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Could it be true? Could it be possible? C’mon House…Let it ride, baby! Let it ride!
If you’ve made an Offer to Purchase a home recently, especially a Short Sale in Stockton, Lodi, Modesto, CA or anywhere for that matter, then you know what I’m talking about.
To receive the home-buyer’s tax credit you had to have been “under contract” (meaning, accepted by the seller) by April 30th and have your deal “close escrow” by June 30th. But since some banks are extremely slow to approve short sales, a lot of these deals haven’t closed escrow yet, and may not be able to by June 30.
It was put to a vote, and the Senate said YES to an extension until Sept 30th to get these deals closed. Now it’s up before the House to approve this extension as well.
Here’s a quick read on this story… http://bit.ly/9fr0ru
Good luck Brandon! I’m bettin’ on the House for you!
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- Senate votes to extend home tax credit deadline (reuters.com)
