NAR continues pressing for NFIP & homebuyer tax credit closing deadline extension

Despite yesterday’s filibuster, NAR continues lobbying Congress to pass the closing deadline for the homebuyer tax credit and the National Flood Insurance Program. According to NAR:

  • Members are advised “to proceed as if the June 30, 2010 date is binding.”
  • NAR lobbyists are pursuing “all possible options with senior congressional staff to determine what other legislation may be available for passing a June 30 extension. Each of the possible options face[s] difficult obstacles…”
  • NAR lobbyists expect the Senate to consider HR 5569, the National Flood Insurance Program Extension Act of 2010, next week.
  • all possible options with senior congressional staff to determine what other legislation may be available for passing a June 30 extension.  Each of the possible options face difficult obstacles, but NAR’s efforts to clear the way are on going.
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One Response to NAR continues pressing for NFIP & homebuyer tax credit closing deadline extension

  1. Why was the 2nd part of the deadline (June 30) only 2 months after the first part (april 30)? Surely many transactions (i.e. short sales) could go into contract prior to the april 30 deadline but not be in a position to be closed by June 30.

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