Extension to the 1st time homebuyer credit

There have been a lot of confusion out there as to whether Congress has approved an extension to the 1^st time homebuyer credit –

Please know that the Senate passed an amendment to HR 4213 which is a bill that primarily extends unemployment insurance and closes certain tax loop holes.
The bill itself is not yet approved.

 To pass and become law, this bill would have to pass in the Senate, be reconciled with the House bill and then signed by the President. The passage of this amendment
means that IF the full bill passed and this amendment survives the reconciling process, 1^st time home buyers would have until September 30^th to close on transactions where
the purchase agreement was signed by April 30^th in order to receive credit for the tax credit. It would extend the closing time-frame only of qualifying transactions.

 There is no change to the dates associated with the tax credit at this time and loans must close by June 30^th in order to qualify for the tax credit.

 We will keep tracking this issue and let you know of any progress or changes