Submitted by Jasmine Stutzenstein ~ PSCO Marketing Director
On Friday, President Obama signed the Tax Credit Extension.
In addition to approving the extension of the tax credit closing deadline, President Obama signed the National Flood Insurance Program Extension Act of 2010 on Friday morning. This retroactively reauthorizes the Federal Emergency Management Agency to enter into new contracts for flood insurance under the National Flood Insurance Program through September 30, 2010. The extension of this program is expected to help provide further stability to real estate markets across the nation.
This extends the closing date from June 30, 2010 to September 30, 2010 for buyers that had signed contracts by April 30, 2010.