The time frame for the $8,000.00 First Time Home Buyers Tax Creditis quickly approaching. The credit is set to end November 30, 2009. I don't know about you but I have a number of buyers and lenders scrambling to get in contract or to get their deals closed by November 30, 2009. There have been efforts to extend the credit beyond the original end date. There may be hope, the Senate was to vote yesterday on a bill that would expand the $8,000.00 First Time Home Buyers Tax Credit.
The extension would make All home buyers eligible for the $8,000.00 First Time Home Buyers Tax Credit. The extension would be from December 1, 2009 until April 30, 2010 plus a 60 day extension if in contract by April 30, 2010. Also the income requirements will be $125,000 for single filers and $225,000 for joint filers. There are a couple of other things that factor into this but those are what I felt were the main points.
If this bill does pass there will be a huge weight lifted off of the shoulders of the buyers, agents, and lenders who are scrambling to meet this November 30, 2009 First Time Home Buyere tax Credit deadline.
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