Sad/Happy News about the Home Buyer Tax Credit Extension

UPDATE:  On again.  I give up tracking this!  Now it’s looking like the tax extension portion will be passed after all…

Passed by the Senate, but not yet in the clear … Recently amended legislation that would extend the tax credit closing deadline (for buyers under contract as of April 30) from June 30 to September 30, has been derailed.  The bill (HR 4213), provides for extension of emergency unemployment benefits, as well as the retroactive extension of the National Flood Insurance Program.  Although the Senate recently voted to amend the bill to include the tax credit closing extension, there are not enough votes to pass the bill itself.  The National Association of Realtors is holding out hope that there will still be an extension in one form or another but, for now, the original June 30 closing deadline stands.