Tuesday, June 29, 2010

Lawmakers consider home tax credit extension

First-time homebuyers looking to land an $8,000 federal income tax credit may have a little more time to close on their purchases if a Senate amendment unveiled Thursday makes it into law. The closing deadline could be pushed back to Sept. 30 under an amendment offered by Senate Majority Leader Harry Reid, D-Nev., Sen. Johnny Isakson, R-Ga., and Sen. Chris Dodd, D-Conn - they want to make sure banks have time to process the transactions, especially short-sales. Read full article:
http://www.usatoday.com/money/economy/housing/2010-06-10-home-tax-credit_N.htm