The Senate had put a provision in a bill that was to extend jobless benefits and some other provisions to help the economy but the bill was voted down on a test votes so it went back the to the finance committee to be re-worked. In the re-working, Senator Reid added a provision to extend the deadline for closing on your loan from June 30th to September 30th in order to still receive the First Time Home Buyer Tax Credit. The bill hasn’t been voted on by the Senate, just the amendment to the bill. The bill must pass the Senate and then the House.

This means everybody who got under contract by April 30th still needs to close by June 30th in order to get the tax credit unless this bill can successfully pass both the Senate and the House.  There are some misleading headlines like this one “Senate approves home tax credit extension“.  So be careful and make sure you are getting the correct information. Here is updated link on bill getting yet another defeat at trying to break a filibuster, update article.

If you would like help with a mortgage for the purchase or refinance of a home in Delaware, Maryland, or Pennsylvania feel free to call me at 302-703-0727 or you can also APPLY ONLINE HERE.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713