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Extending the Home Buyer Tax Credit – So Close, Yet So Far Away
Here is the headline from the AP Story that ran yesterday "Senators agree to extend homebuyer tax credit".  Look spretty good, doesn't it?  Reading that, you would think we were in the clear, tax credits for everyone!   Well, I hate to rain on everyone's parade, but we still have a long way to go. 

 
Think of this process like looking at the moon through a telescope, it's there, you can see every detail, you almost feel like you can reach out and touch it....... yet it is still thousands of miles away.
 
So, why am I being so negative?  Because it isn't done!  What happened yesterday was an excellent beginning, we needed this or this thing would have been dead in the water.  But Congress didn't extend the credit.  A few "key players", as in Senate leaders, agreed to include provisions (more details on that are in the post I wrote 2 days ago) to extend the tax credit  in a Bill to extend unemployment benefits.  Here are the highlights of what they agreed on:
Extending the $8,000 First Time Buyer Credit to 4-30-10. Giving a tax credit of up to $6,500 to Repeat Buyers who have owned their ... more

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