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House Passes Senate Bill

You saw it here first. Maybe.

It's off to President Obama. "It" being the extension and expansion of the First Time Buyers' Tax Credit.

Here is the House of Representatives vote

If nothing else, that should get the closing attornies a hectic December 2009, and June 2010.

Gratuitous Graphic

I forsee a lot of 70 day closings coming up in April 2010, as folks try to hit the contract deadline and max out the closing time period.

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Mike Jaquish, REALTOR®

919-880-2769 www.MikeJaquish.com

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Broker Associate, KELLER WILLIAMS® Realty, Cary, NC

Posted by Mike Jaquish Cary, NC, Real Estate on 11/05/2009 02:10 PM

Comments (6)

First Time Homebuyer Tax Credit in the Mortgage / Finance Channel

1st time buyers credit

Originally posted at: Cary, NC, Real Estate Focus: House Passes Senate Bill

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6 Comments on House Passes Senate Bill

NOV

Good news indeed. I like the new wrinkle involvling current homeowners. This may help them get over the fact that their "taking a bath" on the sale of their current homes.

Tom,

Good news if one buys into the tax credits in the first place.

It is good news for first time buyers and will hopefully get us through the foreclosure glut.

NOV

Terry Bonnie,

Is it short term gain for long term pain?

NOV

Mike As long as we are willing to keep absorbing debt and paying higher taxes it is a good program :(

Karen,

I don't have kids, so I can defer my debt and tax burden to other folks' kids. And grandkids.

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