First-Time Homebuyer Tax Credit Deadline Nears, Creates Mad Dash to Close

A mad rush is under way for first-time homebuyers to make an offer on a house, get a mortgage and close. The reason: an $8,000 federal tax credit for those buyers is about to expire -- and homebuyers are hurrying to get everything done before the Dec. 1 deadline. The Obama administration economic team is evaluating whether to extend the deadline, White House spokesman Robert Gibbs said, according to The Associated Press. But unless the White House or other officials act to extend it, experts...Full Story
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