Just before its July 4 recess, Congress extended a deadline for the first-time homebuyer credit.
Under the Homebuyer Assistance and Improvement Act of 2010, the credit is available for a closing by Sept. 30, 2010 (instead of June 30) for contracts signed by April 30. This extension will benefit 180,000 homebuyers.
Make sure you finalize any deals before Oct. 1. It's unlikely Congress will extend the closing deadline again.