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Public Statements

Childers Helps More Than 1,500 North Mississippi Families Afford New Homes

Press Release

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Date:
Location: Washington, DC

Today, U.S. Rep. Travis Childers (MS-01) joined Reps. Kathy Dahlkemper (PA-03) and Frank Kratovil (MD-01) in introducing and helping pass an extension of the closing deadline for the first-time homebuyer tax credit. The bipartisan Homebuyers Assistance and Improvement Act of 2010 will extend the closing deadline for those eligible for the first-time homebuyer tax credit from June 30, 2010 until September 30, 2010, giving homebuyers who signed a contract by the April 30th deadline three extra months to complete their closing.

"Despite meeting the requirements of the first-time homebuyer tax credit, many Mississippians and Americans have been unable to close on their new home in time for the June 30th deadline due to circumstances out of their control," said Childers. "With this three-month extension, over 1,500 homebuyers in Mississippi will be able to take advantage of the program, making homes more affordable for families and individuals, and creating much-needed jobs.

"As a veteran realtor for over 30 years, I know that if the housing industry prospers, the economy will follow. By helping sustain the progress linked to the initial benefits of the homebuyer tax credit, today's legislation builds on recent improvements in the housing market, helping us come closer to making a full economic recovery."

"As a veteran realtor for over 30 years, I know that if the housing industry prospers, the economy will follow. By helping sustain the progress linked to the initial benefits of the homebuyer tax credit, today's legislation builds on recent improvements in the housing market, helping us come closer to making a full economic recovery."

"The Mississippi Association of REALTORS appreciates Congressman Childers and all those who voted to extend the closing date to Sept. 30 from June 30 for prospective homebuyers who met the April 30 contract requirement for the First Time Homebuyer Tax Credit. The first time homebuyer tax credit program was a success and it is critical that Congress allow this extension," said Derek Easley, Governmental Affairs Director of the Mississippi Association of REALTORS.

The success of the first-time homebuyer tax credit, along with turmoil in the housing market, has resulted in a backlog of families and individuals waiting to close on their homes through the program. Today's closing deadline extension will allow time for new mortgages to be processed, and will prevent homeowners who have been delayed through no fault of their own from being unfairly punished. The extension is fully paid-for and received bipartisan support in the Senate.


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