BREAKING NEWS: Senate Approves Home Tax Credit Extension

WASHINGTON – The Senate on Wednesday approved a plan to give home buyers an extra three months to close transactions qualifying for the federal tax incentives that boosted home sales this spring.
The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to close their purchases in order to qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to close the transaction.
A Senate vote on the full legislation is expected to come later this week or next week, and then it will be sent to the House for review.*
This is not for new buyers, but those already under contract by April 30th. Read the full article here.
*source: DSNEWS.com, June 16, 2010

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