Suresh Yadav

Another tax credit extension to keep the moribund U.S. housing market from getting even worse was being considered by Congress. The deadline for real estate closings to be able to qualify for a federal home buyer tax credit worth up to $ 8,000 is 11:59 p.m. Wednesday. The House voted Tuesday to extend the tax credit closing deadline to Sept. 30 for buyers who actually did meet the April 30 deadline to have a signed contract. But within the Senate the measure is part of a larger bill that also would extend unemployment insurance. If it doesn’t approve, home buyers will be left hanging.

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