The extended and expanded tax credit is definitely an exciting piece of legislature for the real estate industry, and especially for potential homebuyers. However, there can be a lot of confusion anytime a new bill is passed, especially when it comes to financing one of the most important purchases of your life. In the next few posts, we’ll do our best to clear up any confusion about the homebuyer tax credit by answering some questions many potential homebuyers have asked.
Question: I’m currently in the process to buy my first home. I entered into contract to purchase on November 1st, 2009, but have yet to close. Did I miss the previous November 30th cutoff, or am I eligible under the extension? How does the extension date affect me?
Find out the answer after the jump! (more…)