Tuesday, November 3, 2009

Extension to the First-Time Homebuyer Tax Credit Inching Forward!

First-time homebuyers that haven't yet found their next home may still be able to take advantage of the $8,000 tax credit! Yesterday, the Senate voted 85-2 to move the bill that is proposing to extend the first-time homebuyer tax credit until April 30, 2010 to a final vote. The current tax credit is set to expire on November 30, 2009 and offers no incentive to current homeowners. Conversely, the proposed bill would not only extend the tax credit for first-time homebuyers, but also render repeat buyers, that have owned their homes for at least 5 years, eligible for a reduced $6,500 tax credit!

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