October 29, 2009

"Rumblings" of Tax Credit Extension

I have heard rumblings that the Home Buyer Tax Credit is close to being extended.  Below are the bullet points from part of an article that I found informative.  This is not guaranteed nor has it been finalized.  I will keep you posted as I hear things.

  • tax credit expiration would hurt the residential market recovery
  • Congress is moving toward extending, expanding or replacing the tax credit
  • extend the deadline five months to April 30, 2010
  • make the credit available to all new home buyers, not just to first-timers
  • extend the $8,000 credit for first-time buyers
  • create a $6,500 credit for others so long as they have owned a home for at least five consecutive years since 2001
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