As you may have heard, the real estate industry received a big win today when President Obama signed two important pieces of legislation into law.

The first one extends the closing deadline for the homebuyer tax credit until September 30, 2010, for any transactions that had ratified contracts in place as of April 30, 2010, but have not yet closed. Previous blog was about the Senate approval...Now that the President has signed it is official naitionally. Real estate agents working with buyers who fit into this category, please let them know about the extended deadline.

In addition, the National Flood Insurance Program, which provides flood insurance to homeowners in participating communities in flood-prone areas who could not otherwise obtain coverage due to cost or ineligibility, was also extended until September 30, 2010. As a result, buyers in these areas can now obtain mortgages and transactions can move forward. This bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension.

If you or anyone you know is interested in purchasing real estate, please:
Contact Clara at 856-264-1058

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