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Tax Credit Extended July 1, 2010

Posted by orlandoshortsalefl in 6500 tax credit, 8000 tax credit, Orlando real estate, Tax Credit, tax credit information.
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The Senate and the House have sent the bill to the President to be signed. the tax credit extension is now until September 30, 2010. This is for all contracts that were in place as of April 30, 2010. This is a major victory for all the homebuyers who from no fault of their own had been waiting to close.

Congress has also passed the National Flood Insurance Program Extension Act of 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period.

My thoughts on this are very positive for the housing market. However maybe next time our House and Senate will not wait until the last minute to do something. I won’t hold my breath but it sure would help.

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