Business, consumer and economic tidbits from DNT reporter Candace Renalls. Click here to view previous posts or additional resources.

Homebuyer credit deadline extended

If you struck a deal to buy a house by April 30 but lost out on the first time homebuyer credit by not closing by June 30, you're in luck.

You can still get it.

The deadline was extended to Sept. 30 in an act signed by President Obama July 2.

The purchase agreement still needs to have been entered by April 30. And the homebuyer must be eligible for the tax credit. To be eligible a homebuyer must not have owned a home in recent years or must have lived for five consecutive years during the last eight years in their old home.

To learn more, visit www.irs.gov and go to the First Time Homebuyer Credit page. 

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