NAR Lauds Proposal to Extend Tax-Credit Closings
The National Association of REALTORS® today expressed thanks on behalf of America’s homebuyers to three Senators for introducing a measure to extend the present home buyer tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn.

NAR President Vicki Cox Golder said she also wanted to make this clear: “This amendment does not extend the deadline for home buyers to qualify for the tax credit; it extends the deadline for closing the transaction, from June 30 to Sept. 30. Since these applications were already in the pipeline and figured into the program’s cost, the extension of the closing deadline should not incur any further government costs.”

Courtesy of  UCAR (Utah County Association of Realtors) Weekly, June, 2010

I personally give thanks for this measure introduced by the Senators to extend the Federal Tax Credit deadline for those buyers under contract until September 30, 2010 in order for them to qualify for the Federal Tax Credit of $8,000.  It isn’t the buyer that is holding up the process, it’s the lender.

Tags: American Fork, buyers, deadline, Federal Tax Credit, home buyer, Utah Association of Realtors, Utah County

Posted on Thursday, June 17th, 2010 at 2:46 pm and is filed under Federal Tax Credit Deadline Extension. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.