Now the First Time Home Buyer Tax Credit ....and Tomorrow?

We've been a happy bunch with the buyer's incentive of a tax credit of up to 8k for buying that first home. I had two transactions due to close this month  that were squeezing by....hoping that they would extend the credit so there were no worries about getting that credit. Hawaii First Time Homebuyers who really wanted that credit.

Granted, they wanted to really buy that first home anyway and one did close this past Friday (short sale) with a one acre lot with a nice house. The extension brought the second one good news as it's not scheduled to close until the second week of December.

The thing I'm wondering is.....so what happens when the extension is coming to a close? Extend again? And again?