After too many delays in the House and Senate over extenders legislation, President Obama has signed H.R. 5623 (the “Homebuyer Assistance and Improvement Act of 2010”), extending the first-time and long-time homebuyer credit. The new law extends the closing date deadline for three months from June 30, 2010 to September 30, 2010. The new law does not however change the fact that homebuyers must still have had a signed sales contract in place since no later than April 30, 2010 in order to qualify for the credit.
If you have any questions about how this credit works or if you want to discuss any other home financing needs, please call or e-mail our Director of Mortgage Services, Pete Caldes, at (267) 765-7310 or pcaldes@dsmortgages.com. We will provide you with a free evaluation of your current and future home financing needs.