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House OK’s Extension of Homebuyer Tax Credit Closing Deadline

House OK’s Extension of Homebuyer Tax Credit Closing Deadline

Who says Congress can’t move quickly when its members are in the mood?

The House today approved nearly unanimously a stand-alone bill that would extend the deadline to close escrow and receive the Homebuyer Tax Credit to September 30. This still only applies to buyers who were under contract by April 30 and who otherwise would have to close escrow by midnight tomorrow.

The measure still would need to be passed by the Senate, where business has slowed due to the death of Senator Robert Byrd, and signed by the president to take effect.

Stay tuned.

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