Breaking News! U.S. Senators agree to extend homebuyer tax credit
According to the AP on Wednesday the Senate could have a vote on the extension of the first time home buyer tax credit as early as Thursday. The extention would continue the $8K first time home buyer tax credit plus allow current home owners who have lived in their present homes for at least 5 years a $6,500 tax credit. This provision requires that your new home be contracted before the end of April 2010 and your new home closed by the end of June 2010.
This provision will relieve the coming log jam at the end of November has thousands of first time home buyers struggle to get their new homes closed. Hopefully in the coming days, passage of this critical provision will be made law.
Please stay tuned for additional information and refer to the Associated Press article for additional information.
http://hosted.ap.org/dynamic/stories/U/US_HOMEBUYER_TAX_CREDITS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2009-10-28-20-00-21