Senate Approves Homebuyer Tax Credit Extension: What's Next?

It's almost official: The Senate approved a three-month extension on the homebuyer tax credit for buyers in escrow late last night. The House voted in favor of it 409 to 5 on June 29. The Senate vote was unanimous.

Now the bill must be signed by President Obama, which may happen as soon as today.

But will the extension cover those buyers unlucky enough to fall between the deadline and ratification?