Monday, June 21, 2010

Home buyers race to close deals before tax credit expires

More breathing room could be on the way for people racing to meet the June 30 closing deadline to qualify for a home-buyer tax credit, the Washington Post reports.

The Senate recently passed a measure that would give buyers who met the April 30 deadline for signing a purchase agreement an additional three months to close their deals. The legislation, attached to a bill that would extend unemployment benefits, still needs final approval in the House.

The new closing deadline would be Sept. 30.

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