July 1st, 2010 3:26 PM

The U.S. Senate  passed HR 5623, which extends the mandatory closing date to qualify for the homebuyer tax credit. This bill was previoustly passed by the House, and still needs President Obama's signature to become law.  This should happen soon.  The contract deadline does not change - homebuyers must have had a contract signed by April 30, 2010 (although there is an exception for active duty military).  The previous closing deadline of June 30, 2010 has been extended until Sept. 30, 2010. The National Association of Realtors estimates that the approved bill will benefit more than 14,000 homebuyers in Florida.

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