Good News. The Senate voted unanimously to pass the Homebuyer Assistance and Improvement Act. The last minute vote on Wednesday afternoon extends the closing deadline until September 30th for people who have already qualified for the homebuyer tax credit. The original deadline was June 30th.
The National Association of Realtors has estimated that as many as 180,000 buyers who signed contracts by April 30th may have missed the June 30th closing deadline due to delayed closings.
The bill, already passed by the House on Tuesday, will now head to President Barack Obama, who is expected to sign it into law.