As you know, the bill to extend the tax credit closing deadline has been bouncing back and forth in the Congress.  The good news is that it has now been passed by both houses, and is on its way to the President’s office for signature.

The extended tax credit closing deadline is September 30, 2010.  The credit applies to home buyers who meet the other criteria for the credit, and who had a signed contract in place by April 30, 2010.

Eligibility will not be affected by the delay between the time that the Congress passed the extension and the time when the President signs off.

In other good news, legislation to extend the National Flood Insurance Program has also been approved.  Read more about both legislative actions at Realtor.org.