Congress finally approved an extension of the first-time and move-up buyer tax credits ($8000.00 and $6500.00 respectively) to September 30, 2010. This only applies to those who already signed a contract by April 30, 2010.

I have very few clients who will be affected by this.

I guess it’s good to help out those unfortunate souls who got sucked down some mortgage underwriting vortex and ended up with delayed closings.

I will so miss the tax credit.  I loved the credit with all my heart. It was an awesome, effective stimulus to a dead real estate market. The problem is how do we live without it?

Related posts:

1. Home buyer tax credit extended: The new rules
2. Forms for tax credit
3. New form 5405 for home tax credit issued
4. How to get $8k tax credit asap
5. Wait for new form to file for real estate tax credit