Extension for closings for Tax Credit

It looks like home buyers who did not meet the June 30 deadline to close may gain more time to obtain a federal home-buyer tax credit of up to $8,000. President Obama is expected to sign off on legislation as early as today following approval in both congressional chambers earlier this week. It would extend the deadline for the home-buyer tax credit which would give buyers with purchase contracts in place three more months to close on the sale.