The extension of the first-time homebuyer’s federal tax credit has cleared another hurdle, with the House passing a bill today to extend the credit by three months past its June 30 deadline, Inman News reported. The bill passed in the House
by a vote of 409 to 5, and the Senate could vote on it as soon as
tomorrow, though experts say its passage is uncertain. Without an
extension, as many as 180,000 homebuyers — including 9,130
in New York State — who were under contract by April 30 may miss the
Wednesday deadline, according to the National Association of Realtors.
The Senate is already on record as supporting an extension, after
amending a bill June 16 to push the deadline back to Sept. 30. But
other provisions of that bill have been controversial, prompting House
lawmakers to introduce a stand-alone bill. [Inman News]