Real Estate News Alert – Homebuyer Tax Credit and National Flood Insurance

It has all come down to the wire! Congress voted to extend homebuyers tax credit and national flood insurance.

Homebuyer Tax Credit Bill HR 5623 – The closing date of the previous stated closing deadline by June 30, 2010 has been extended through September 30, 2010. This extension will help homebuyers who signed purchase contracts before April 30, 2010 and are waiting for the property owner’s lender for approval.  According to the National Association of Realtors, it will benefit more than 14, 000 contracts in Florida.

Active Duty Military members exception – military families and active-duty servicemembers currently living overseas, deadline is April 30, 2011.

National Flood Insurance Program – Congress extended the bill HR5569 a short-term program retroactive to May 31,2010 until September 30, 2010.

Leave A Comment...

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>