On July 2nd, President Obama signed into law a bill that extends the original homebuyer’s credit deadline for closing a sale.
Previously, the law stated that the contract had to be entered into by the end of April 30th with the closing to take place by June 30, 2010. However, the “Homebuyer Assistance and Improvement Act of 2010” extends the closing date deadline to October 1, 2010. The bill does not extend the credit itself because the contract still has to have been entered into no later than April 30, 2010.