There has been some confusion on the recently extended tax credit deadline. The federal homebuyers tax credit program was not extended for new contracts. But, thanks to the lobbying efforts of the National Association of Home Builders and the National Association of Realtors, the deadline for closings on home purchases eligible for the federal Homebuyers tax credit has been extended from June 30 to September 30, 2010. This extension was offered because many of the eligible contracts (contracts written no later than April 30, 2010) had suffered delays caused, primarily, by the slow response times of lenders. Many homebuyers who were about to lose the federal tax credit through no fault of their own will welcome this extension. It’s important to note that qualified members of the military, Foreign Service, and intelligence communities have another year to buy a home and claim the credit.
It is estimated that this extension will affect at least 200,000 homebuyers and countless other individuals and companies that would have been negatively affected, had the extension not been granted. i.e. the home sellers, mortgage loan processors, homebuilders, sub-contractors, title companies, etc. The ripple effect of the tax-credit is hard to measure, but it is easy to see that the tax credit benefitted the entire economy.
Did you know that special rules for the homebuyer tax credit apply for members of the military, the Foreign Service, and the intelligence community making the 2010 HOME BUYER TAX CREDIT AVAILABLE UNTIL APRIL 30, 2011? 
