The housing tax credit to consumers is expiring June 30th 2010. The National Association of Realtors is asking congress to extend the timelines to close deals and still allow ready and willing buyers time needed to close escrow and qualify for the credit.

The problem is that the banks and the government are involved. Many transactions are foreclosure, short or regular sales all of which take longer now because of the new Reg Z & RESPA laws, getting a loan from origination to closing is taking A LOT longer. It's not going to hurt anyone to extend the timeline for already qualified buyers.