Note that the headline says Closing deadline.  In order for you to qualify for the tax credit you were to have had a contract executed on or before April 30.  Of course, I’m sure there will be some backdating of contracts going on – and that was one of the arguments extending the closing deadline.

But the impetus for extending the deadline, according to one of the sponsors of the amendment, Sen. Harry Reid D-Nev, is the nation’s lenders have a backlog of 180,000 loans in process trying to close by the end of the month.

Here is the bill HR 4213 if you’d like to read the details.

I’m wondering if this is just throwing another bone to the big lenders our government seems so anxious to please.  When I talk to our local lenders in our little bailiwick – nobody seems to be complaining of working too much overtime, or being overly busy.

Update June 23 – I called one of NARs representatives in Washington and she said that the extension has not been finalized yet.