NeWS to KnOW

There's great news for homebuyers-  Home buyers hoping to tap into federal tax credits don't have to walk away from their future home if they haven't made it to the closing table yet. According to the Associated Press, Wednesday night the Senate approved a three-month extension giving homebuyers until Sept. 30 to close.

The home buyer tax credit program closing deadline was originally June 30.  Home buyers who had contracts by the April 30 deadline have been waiting for lenders to move forward on the deals. The extension would give them until Sept. 30 to close.

To be clear, this only applies to those who signed a purchase contract before the April 30th deadline but failed to close on the house.  They will now have until September to close.