Congress extends tax credit closing deadline to September 30

Late on June 30, the National Association of REALTORS® (NAR) reported Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623).

According to NAR:

The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. 

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation. 

Learn more at the REALTOR® Action Center.

This entry was posted in Government Affairs, Housing Market and tagged , by Ann Londrigan. Bookmark the permalink.

About Ann Londrigan

Ann Londrigan is Director of Association Outreach and Marketing for the Illinois Association of REALTORS®. She is responsible for increasing member engagement in and awareness for IAR Governmental Affairs and the RVOICE program as well as increasing participation in the REALTORS® Political Action Committee. She is responsible for overall marketing plans for IAR member benefits, educational products and events and is the content manager for IAR's Facebook page and LinkedIn discussion group. She manages the IAR Welcome Center, serves as staff liaison to the University of Illinois Regional Economics Applications Laboratory, and coordinates the IAR housing stats program.

3 thoughts on “Congress extends tax credit closing deadline to September 30

  1. Pingback: Tweets that mention Tax credit closing deadline extended to September 30 -- Topsy.com

  2. This is great news for those that signed on time but were close to missing out on the credit. According to NAR, that’s over 7,000 people in Illinois. However, I think now it’s time to stop the extensions, etc., and see what the housing market will do on its own!

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