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First-time home buyers credit and a provision to extend for move-up buyers passed today! by Bo Kociuba, Yukon Realtor, www.Okla-OK.com

First-time home buyers credit extension by Bo Kociuba, Yukon Realtor Today the legislation passes 85-2 to extend the first-time home buyers tax credit and a provision to extend the credit to move-up buyers!

Such high voting makes it virtually certain that the legislation will reach President Obama for his signature this week.

The bill calls for credit to be extended by 7 months and to expire on April 30, 2010. So the first-time home buyers do not have to worry about closing on the house after the November 30th date which was the original deadline.

The $8,000 maximum first-timer credit will continue and will be now available to couples with income up to $225,000, a nearly $55,000 increase above the level in existing law. A new $6,500 maximum credit would also be available to move-up homeowners who have lived in their current residence for five of the prior eight years.

More details to follow ...

With smiles,

Bo in Yukon

Posted by Bo Kociuba on 11/04/2009 07:21 PM

Comments (6)

8000 Tax Credit Extended? in the ActiveRain Channel

first time home buyers, 8000 new tax credit, loans financing

Originally posted at: "Out & About Yukon" - Bo's Blog: First-time home buyers credit and a provision to extend for move-up buyers passed today! by Bo Kociuba, Yukon Realtor, www.Okla-OK.com

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6 Comments on First-time home buyers credit and a provision to extend for move-up buyers passed today! by Bo Kociuba, Yukon Realtor, www.Okla-OK.com

NOV

Great Stuff! passes 85-2! What were the two thinkin'?