More Time For Home Buyers

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Just in the nick of time, homebuyers who are eligible for the $8000 tax credit were given a 3 month extension to close the deal. They now have until September 30, 2010 in order to close to take advantage of the tax credit.

President Barack Obama signed the legislation on Friday morning.

This is good news because as we have reported here before and as anyone who has purchased a home or has been involved in the purchase of a home knows that the closing is pretty much out of the buyers control after the contract is made. Mortgage companies, title companies, inspectors and more all have their own part to complete.