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Update on $8,000 Tax Credit

The US Senate is expected to vote on the bill that will extend the First Time Home Buyer Tax credit. The Senate is expected to pass the extension. Experts believe the extension will be for 6 months and will stay at $8,000 for First Time Home Buyers only. The extension is beleived crucial for helping the home market continue to recover.

If you would like to learn more about qualifying for the first time home buyer tax credit or interested in seeing if you qualify for a mortgage, please feel free to e-mail me at DelawareMortgages@yahoo.com or call 302-703-0727.

John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage

www.DelawareMortgageLoans.net

Posted by John Thomas on 10/26/2009 10:11 PM

Comments (5)

First Time Home Buyer Tax Credit in the Mortgage / Finance Channel

first time home buyer tax credit

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5 Comments on Update on $8,000 Tax Credit

OCT

I only pray that you are correct....

OCT

Me too. That could boost otherwise declinging "holiday" sales.

Ooops, I mean declining.

Lets all hope they pass the extension. Fingers crossed...

The Democratic Senator wants extension for all of 2010 with deceasing amount. $8,000 till April, then $6,000 till June, then $4,000, then $2,000. The republican Senator wants the credit to be $15,000 and not just for first time home buyers. The original stimulus bill was $15,000 for any primary residence then at the last minute it got cut to $8,000 and for first time home buyers only. Need the extra to fix an airport nobody uses I guess or needed the extra to to give to car makers to save them, oh thats right they didn't save them. Whether you agree with stimulus money or not, it it had to be spent I sure think it would have done more good in the hands of consumers.

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