Post # 1
I know many bees on here are in the process of buying a home or in contract and did not meet the second extensiond deadline of June 30. I just wanted to let you know if you have not seen that there is a news report that Congress has extended the credit until September 30, 2010! Suprising, yet great news! Hope many can take advantage of this, like we were able to! You must have already been under contract by April 30 and just be closed by September 30.
Post # 3
This is just for first time home buyers, correct? And just for homes you live in full time? (i.e., not if you buy a vacation property or rental property)?
Post # 4
@gabrielleelise1981: I believe this is only for first time homebuyers. Also, the tax credit has always been only for primary residences, not rental properties or vacation homes. When we bought our home we had to sign an agreement that the home would be our primary residence for 3 years or else we would have to give back the $8,000 tax credit.
Post # 5
I thought this was only for people that had still signed their P&S by April 30 and they were just extending the deadline for closing….?
Post # 6
Lol – that would be good news, but we’re still waiting to receive ours!
Post # 7
@jaylii9: Actually there is a $6,500 Existing home owners credit that this does apply to as well. There are some qualifications that need to be met but it is not just FTHB.
Post # 8
Yes, you had to be in contract by April 30th and now close by September 30th (it was June 30th).
KLP we are waiting for ours too. I have heard it can take months and months though so who knows!
Post # 9
@Bostongrl25: AND KLP: Hang in there, it will come. For some reason, we received ours back in 4 weeks but have others we know that sent theirs in long before us still waiting. Not sure why the difference?!
Post # 10
@pinkshoes: It is.
The extension is only if you were under contract by April 30th but closed after June 30th. There was a lot of backlog at lenders that led to people having closings scheduled after June 30th (and would have missed the credit). This extension is NOT if you put an offer / came under contract anytime after April 30th.
Well now my reply is pointless since the OP edited. 😉
We received ours in 4 weeks, closed during the last week of March and received it the last week of April.
Post # 11
Yes, You had to be under contract by April 30 in order to qualify for the extension. My wording due to sleep deprivation did not come out right, I apologize. Still great news for those who missed the deadline yesterday.
Post # 12
I am actually really excited about this. I have an interview on Friday and if I get the job we will start to look for a house immediately!!! Thanks for the news!
Post # 13
Darn, we still can’t get it. FH signed the contract in June.