i heard its supposed to get sent to congress today but its with some other stuff but apparently they are aware of the urgency of getting it through!!! lets hope so! because of Wells Fargo taking their time and being uncooperative i will probabally loose out on the credit if they dont extend it!
Yes us too we have been under contract since 23rd of March, waiting on BANK OF AMERICA! Wells Fargo was the 1st loan the seller had and i had no problem with them! Bank of Amerca didnt want to settle what WF was giving them so we agreeed to pay some additional off and this was 2 weeks ago! BOFA was sellers 2nd loan! Like i have said in so many discussons on here just seems they want to get these houses off their books and get rid of them. Never had this issue before when buying a house and we sold ours in Co Springs 7 months ago in 30 days we are now in AZ market is crazy down here! So like we do everyday "hanging in there and loosing patience" Hoping to hear from our realtor today!
House (409-5) passed it on Wednesday the 29th and Senate (60-37) passed the Reid Amendment today the 30th. It covers the almost 180,000 contracts that were accepted prior to the April 30th deadline, but were not closed by the original deadline of today. Extends the deadline to close to Sept. 30, 2010. My understanding is that the Bill has to go back to the House and then to the President before it becomes Law
The tax credit has been extended to Sept 30th, but only for people who already signed contracts by the April 30 deadline. They are basically allowing those transactions to close, not opening up for new transactions. This is the latest news I've been made aware of. Certainly it's possible for yet another change.
But if you have a client that entered into a contract by April 30th, you have until Sept 30th to get the deal closed.
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