Will the homebuyer tax credit be extended? Read on...
At this time the house and senate are debating whether to extend the first time home buyer tax credit. This is the tax credit that a home buyer will receive if they purchase a home for the first time or if they purchase a home but have not owned a home within the last 3 years. It is currently 10% of the purchase price, up to $8,000.00 and the buyer would have to close by November 30th, 2009.
It looks like we may get an extension on the deadline to April 30th, 2010. In addition, this credit may extend to those who are not first time home buyers. Read this article I found on Bloomburg.com http://www.bloomberg.com/apps/news?pid=20601103&sid=a.IE3SgxDRCU