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President Obama will sign a new homebuyer tax credit extension today. The tax credit will now run until September 30 for those who already have a home under contract. It doesn’t apply to people who are still shopping for homes. The New York Times has more:
Congress has sent President Obama a plan to give home buyers an extra three months to qualify for up t0 $8,000 in federal tax credits. Buyers who already have signed contracts will now have until Sept. 30 to complete their purchases. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale. The House approved the measure on Tuesday. Legislation in the Senate was approved Wednesday night by unanimous consent.