Tax credit closing date & flood insurance both extended until Sept. 30th (contract, reduce)

[ShanetheMortgageMan]

Statement by the Press Secretary on H.R. 5569, H.R. 5611, and H.R. 562 | FavStocks

On Friday, July 2, 2010, the President signed into law:

H.R. 5569, the “National Flood Insurance Program Extension Act of 2010,” which retroactively reauthorizes the Federal Emergency Management Agency (FEMA) to enter into new contracts for flood insurance under the National Flood Insurance Program through September 30, 2010; and reduces FEMA’s authority to borrow under the Program by $50 million to up to $20.725 billion.

...

H.R. 5623, the “Homebuyers Assistance and Improvement Act of 2010,” which extends the date by which purchasers must have closed on a home to be eligible for the homebuyer tax credit.

[Mightyqueen801]

Originally Posted by ShanetheMortgageMan

Statement by the Press Secretary on H.R. 5569, H.R. 5611, and H.R. 562 | FavStocks

On Friday, July 2, 2010, the President signed into law:

H.R. 5569, the “National Flood Insurance Program Extension Act of 2010,” which retroactively reauthorizes the Federal Emergency Management Agency (FEMA) to enter into new contracts for flood insurance under the National Flood Insurance Program through September 30, 2010; and reduces FEMA’s authority to borrow under the Program by $50 million to up to $20.725 billion.

...

H.R. 5623, the “Homebuyers Assistance and Improvement Act of 2010,” which extends the date by which purchasers must have closed on a home to be eligible for the homebuyer tax credit.

Ha, and after all the stress I went through this past week! I was under contract in late April, and I closed at 5:45 p.m. on June 29th. Still would have been happy with my new home even if I didn't make it, but I'm glad I did.

My attorney said he had another 4 or 5 coming in the next day trying to beat the deadline.