In a letter dated today, July 1st, 2010, the National Association of Realtors President, Vicki Cox Golder, announced the extension of the Homebuyer Tax Credit closing deadline to September 30, 2010. This is a huge win for REALTORS and homebuyers as well as the National Association of Realtors [NAR] who all worked closely with members of Congress to make it happen! The extension applies only to transactions that have ratified contracts in place as of April 30th and have nort yet closed.
Additionally, Congress extended the National Flood Insurance Program [NFIP] through September 30, 2010. The bill is retroactive and will cover the lapse period from June 1st, 2010 to the date the law is enacted. (Awaiting the president’s signature making the bill into law).
For more details on both the tax credit deadline and the NFIP, you can visit the REALTOR website by clicking HERE.
Thanks to all the NAR members who made their voices heard. These bills would not have passed without their support.