The $8,000 tax credit for first-time home buyers was extended by Congress this week. The credit was set to expire, but was extended until September 30th, for all deals for which contracts were signed on or before April 30th. This is a breath of fresh air to many buyers who had faced the expiration of the credit deadline due to lender delays, which were caused in large part by the flood of new loan applications from borrowers seeking to take advantage of the credit.

http://www.marketwire.com/press-release/Home-Buyers-Get-Tax-Credit-Closing-Flood-Insurance-Extensions-Without-Lapse-Coverage-1284938.htm