Our sources tell us that the Senate is expected to pass the closing extension by the end of their voting day. They have attached it to the extension of unemployment benefits. I wonder if that will cause it to be part of a much bigger debate?

There is predicted to not be much opposition as 180,000 home buyers would be left out of collecting their expected tax credit due to closing delays making it impossible to meet the deadline which was June 30, 2010. Kansas has an estimated 1800+  Buyers waiting for the extension news.

 Home Buyers had to be under contract by the end of April & closed by today to receive up to $8,000 tax credit for first time buyers & up to $6,500 for qualifying repeat buyers.  Most underwriters & title companies in Wichita are backed up due to the number of closings this month.  Also, many delays are due to waiting on Banks to approve short sales.

We are watching the clock &  news outlets with tens of thousands of fellow Americans…

Written by Katherine Ambrose, ABR, CDPE, CRS, GRI
Ambrose Team, Inc. 316.773.SOLD
Founder & Assoc. Broker: Keller Williams Hometown Partners LLC
316.807.5079
kambrose@kw.com

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.