Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010. Previously the credit expired on June 30, 2010 for all transactions that were currently in escrow as of April 30, 2010.

The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law.