The Real Deal Miami

Impending Senate tax credit extension vote could push measure onto House

June 17, 2010 12:45PM

A Senate vote slated for this week or next might determine whether buyers rushing to close on units purchased under the federal first-time homebuyer tax credit program will have more time on their hands, according to the Wall Street Journal. After last night’s Senate vote in favor of a proposal to extend the closing deadline to Sept. 30, from its current June 30 date, a follow-up vote is all that’s needed to push the measure onto the House. Under current regulations buyers who purchased a home and qualified for the $8,000 credit — which expired April 30 — had to seal the deal by the end of this month. [WSJ]