Breaking News: Closing Date Deadline on First Time Buyer Credit Extended to 9/30/10

Late Wednesday, the Senate voted to approve the extension of the settlement date for eligible first time buyers to “before October 1, 2010.” The House had approved the measure earlier in the week, and it’s expected to be signed into law imminently.

This is great news for anyone who had a lender that dropped the ball and couldn’t close the loan on time, and may even help out a few patient buyers of short sales who ALWAYS have delays, but unless you were already under contract by April 30, this extension does nothing for the rest of the buyers out there.

Still, better late than never–thanks Congress, for extending the deadline, even if you had to wait until the evening of June 30 to get it done.

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