The first time home buyer's tax credit has been a much buzzed about topic this year and while it is set to expire on November 30th, the extension talks have now stepped up.
Last week, the House passed a bill allowing for the extension of the credit for military, diplomatic and intelligence personnel who are overseas. This extension signals the hope that Congress will agree to extend the credit for everyone else into 2010.
Talks of renewing the current credit and providing the tax credit to a broader group of buyers, those who are selling their current homes and purchasing a replacement home, continue.
The question of funding without adding to the deficit remains the key. The New York Times reported the possibility of using money from the 2009 $800 Billion dollar package.
Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.
Based on article from Kenneth R. Harney.
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