Washington, DC – Nevada Senator Harry Reid today led the U.S. Senate in passing The Homebuyer Assistance and Improvement Act. This legislation extends from June 30, 2010, to September 30, 2010, the closing deadline for people who have already qualified for the first-time homebuyer tax credit. There was concern that the backlog created by the popularity of the program and the time it takes for banks to deal with transactions such as short sales would have left many homeowners unable to claim the credit.
“I thank my colleagues for joining me to pass this important extension and giving homebuyers in Nevada and around the country the opportunity to purchase their first home,” Reid said. “In addition to helping thousands of families experience the American dream, this successful and popular program provides a much needed boost to Nevada’s housing market and economy.”