Delaware Valley Real Estate - OnPoint with Letitia Stevenson

Home Buyer Tax Credit CLOSING DEADLINE Extended to September 30, 2010!

The Congress has passed new legislation (H.R. 5623 - the Homebuyer Assistance and Improvement Act) which extends the tax credit CLOSING DEADLINE by three (3) months, from June 30^th to September 30^th.  This extension will allow the many "first-time" and "step-up" home buyers who had a RATIFIED CONTRACT in place NO LATER THAN April 30, 2010 - but were unable to close on or before the original June 30 deadline - to take advantage of the $8,000 and $6,500 tax credits.

Homebuyers who entered into contracts after April 30th remain ineligible for the tax credit. Also, the income restrictions and all other rules still apply. For more information on the 2010 Home Buyer Tax Credit, please read my related posts:

• Home Buyer Tax Credit 2010 - Revised November 2009 (Extended and Expanded)
• Home Buyer Tax Credit 8000 - First Time Home Buyer (Extended), Expires April 30, 2010 
• Home Buyer Tax Credit 6500 - Current Homeowners (Repeat Buyers), Expires April 30, 2010

If you have any real estate questions, please contact me. Whether buying, selling, or just curious to learn more, I'm here to assist you.  Please contact me with your questions. I look forward to hearing from you.

This post is provided for informational purposes only. If you have specific questions or individual concerns regarding the tax credit, please contact a tax professional or the Internal Revenue Service at 800-829-1040.