I am happy to report that Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010.
The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law.
This is really helpful for some folks who may have had list minute mortgage issues or other factors that prevented them from being able to close by the end of June. This may also benefit some people who are building homes. In some of these cases the builders may not have been able to complete the homes in time for the end of June deadline.