First time home buyers looking to collect the $8,000 federal income tax credit might still get some time to close on their purchases if a senate amendment unveiled Thursday makes it into law.
Currently as it stands, home buyers must have signed contracts by April 30th and close by June 30th. The closing deadline, could be pushed back to September 30th.
Lawmakers are not scheduled to vote on the bill until next week at the earliest.
"By extending the transaction deadline, we can ensure that everyone taking advantage of this credit can complete the purchase of their new home" Senate Majority Leader Harry Reid.
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