Tax Credit Extension For Home Buyers 2010?

I have been searching for an answer to this and so far I've been unsuccessful.
Did first time home buyers tax credit get extended until September 30 2010?
I heard it at work but I want to confirm it.

asked by Champion in Personal Finance | 2353 views | 07-01-2010 at 12:31 AM

The Tax Credit for first time home buyer didn't get extended yet, but there is a bill in the house and senate right now trying to do that. Most people seem to think it will pass.

This bill does not extend the tax credit for everyone - it only extends the credit for those people who were under contract as of April 30, 2010 but had not closed on the house by today.

Under the current program, anyone who had a signed contract when the program ended in April had until today to close the deal.

But many people encountered delays because they tried to purchase homes already in foreclosure and that meant they had trouble meeting today's deadline to close.
If the extension passes, buyers who were under contract by April 30 can still get between $6,500 and $8,000 in federal tax credits, provided they close by Sept. 30.

The National Association of Realtors estimates that about 180,000 homebuyers who already signed purchase agreements are likely to miss the Wednesday deadline.

answered by Jerry | 07-01-2010 at 12:35 AM

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