House Approves Tax Credit Extension

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Via Guy Adams (Real Living Realty):

House Approves Tax Credit Extension
The U.S. House on Tuesday agreed to give home buyers until Sept. 30 to close on eligible properties and still qualify for the home buyer tax credits.

The current deadline requires buyers to close by June 30 in order to qualify.

The Senate must still approve the measure. Supporters there are planning to tack the bill onto one that would extend unemployment benefits, hoping the popularity of the tax credit extension will overcome Senate objections to extending unemployment.

Practitioners estimate that at least 200,000 buyers won’t be able to close today because settlement offices are slammed, short sales are delayed,and lenders are overwhelmed.

Critics say extending the deadline is an invitation for more fraud.

Source: Reuters News, Corbett B. Daly (06/29/2010)

About susanmorrison

After living in Walpole, MA for many years, our family was transferred to the west coast when I was a senior in high school. In 1983, I graduated from Mission San Jose High School in Fremont, California. I am also a 1987 graduate of Providence College with a major in liberal arts and a minor in business administration. I bring to the table many years of sales experience beginning with thirteen years in Corporate Sales at Delta Air Lines. I'm the mother of three children and I'm very active within the Franklin, MA community. I am also a cancer survivor and support the American Cancer Society Charities.

My husband and I have built five homes and I've lived in a variety of other locations including Toronto Canada, Irving Texas and my current home in Franklin, MA. As a result of all my moving around, I came to the conclusion that I was an expert at moving...why not become an expert on the other side of the table? I earned my real estate license in 2004 and believe that I have found my true niche'. I can empathize with my clients on a variety of levels; whether they are buying or selling. And, like so many other good realtors out there, I believe that possessing good communication skills is one of the many keys to success.

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