OK, so we're less than 48 hours away from the federal-tax-credit deadline, and about 180,000 home buyers who have been in escrow for nearly two months are on the verge of watching that tax credit slip through their fingers. Why? Because, surprise, it might actually take more than 60 days to close a transaction.

The House and Senate have each passed their own versions of an extension for those who are teetering. But they can't seem to get their acts together and do what they were elected to do: LEAD.

Nearly one-tenth of those buyers are in my state. Two of my buyers are among the throng. I worry for them.

Here's a quote from National Association of Realtors President Vicki Cox Golder, taken from Realtor Magazine:

"We are strongly urging the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these home buyers. These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a workflow jam with lenders or other delays such as lapses in the National Flood Insurance Program, Rural Housing Service, and new home construction, and might not be able to complete the purchase of their homes by the current deadline. It would be a tragedy for them not to be able to complete the purchase in time to claim the credit.”

Rock 'n' Roll, Vicki!

I'm not sure I would personally classify it as a "tragedy" (Hey, it's $8,000; but hey, it's only $8,000), but it sure does suck, dude!

Is it OK to expect some cooperation and good faith on the part of our elected officials? Or is polarization and ineptitude the rule of the day on Capitol Hill? Hey, Barbara and Dianne! Hey Ken Calvert and Jerry Lewis! Hey Mary Bono! Get off your behinds and start working together. We're sick of party-line votes. We're tired of your excuses. We're looking for someone to step up.

(Brian Bean is a real estate broker and ambassador for Helping A Million Homeowners, a nationwide organization that is committed to helping alleviate the financial stress that so many homeowners face today. He can be reached directly at Brian@BigDreamInc.com.)

Brian Bean
Real Estate Broker
http://www.scott-brian.com/
http://www.orangecrestriversidehomes.com/
http://www.IEShortSalePros.com
http://www.HelpingAMillionHomeowners.com

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