The Associated Press just announced: Homebuyers tax credit extension fails
Home buyers already under contract for a home by April 30, 2010 will still have to close escrow no later than June 30, 2010 in order to receive the $8000 first time Homebuyer tax credit or the $6500 tax credit for repeat HomeBuyers.
Bill, H.R. 4123, if passed, would have given these Homebuyers an additional 3-months to close (September 30, 2010).
The vote was 57-41, three short of the 60 needed to beat a Republican filibuster.
According to the Associated Press article: Last week, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced home sales fell 53 percent in May for the 13 western states of the U.S. Nationally, home sales dropped 33 percent over the same time period.
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