News Release

For Immediate Release - July 02, 2010 

Worldwide ERC News Release
Anita Brienza  
+1 301 847 3772

Closing Deadline for Homebuyer Credit Extended 

Congress has passed legislation extending the deadline to complete home purchases eligible for the homebuyer credit from June 30, 2010 to September 30, 2010.  H.R. 5623 was sent to the President for signature on July 1, 2010.  As a result, homebuyers who entered into binding contracts to purchase a home by the April 30, 2010 expiration of credit, but were unable to close on those purchases by the June 30 deadline, will have an extra 90 days to do so and receive the credit.  The extension will assist those whose transactions faced closing difficulties due to loan approvals, short sales, and other issues.  Relocation management companies (RMCs) whose sales of inventory homes to buyers eligible for the credit had faced such closing problems will now have extra time to effect the closings.  Worldwide ERC® supported the National Association of Realtors and others in seeking the extension. 

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