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Tax Credit for First Time Home Buyers Extended

It's official. Congress has extended the deadline to qualify for new home purchases to September 30th.

I think I just felt a breeze from the collective sigh of relief of 180,000 people. That's the amount of home buyers saved from being left out in the cold.

The closing date for new home loans was initially set for June 30th (yesterday). The new bill only allows people who already have signed contracts to finish at the extended date.

From a personal perspective, it's good to see buyers have more time. There's simply more steps involved in the mortgage process than in years past, and it's taken a little longer to make sure we get all the documents we need.

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