Home buyers win more time to claim tax credit

Good news! President Obama signed into law a three-month extension on the deadline for home buyers to obtain a federal home buyer tax credit of up to $8,000.

Eligible taxpayers who contracted to buy a home, qualifying for the first-time home buyer tax credit before the end of April 2010, now have until September 30, 2010 to close the deal. To be eligible, buyers need to be in a binding contract that was in place by April 30.

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