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Tax Credit Extension - Clears both the HR and the Senate heading to the President for his signature-

Extension of the First time Home buyers tax credit has cleared both the House and Senate and is heading toward the White House for a signature. President Obama has indicated that he intends to sign the extension into law that would not only extend the credit until April 30, 2010 but enhance the credit to include a $6,500 tax credit to borrowers that have been in their homes for the last 5 years. What the details are in the bill on qualifying for the $6,500 and when that will go into effect or if it will be retroactive has not been elaborated on yet but I will be posting as soon as the extension goes into effect.

Should you have any questions regarding the tax credit please feel to contact me, email or call me! 2009 has been a great year and we look forward to assisting even more clients become home owners in 2010.

Darren Stewart

OakStar Bank, N.A.

Posted by Darren Stewart on 11/05/2009 06:05 PM

Comments (2)

First Time Home Buyers Tax Credit Info in the Home Buying Channel

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2 Comments on Tax Credit Extension - Clears both the HR and the Senate heading to the President for his signature-

NOV

I don't think I have ever seen anything posted about more than the Tax Credit. You would think it is going to solve the worlds problems or something or is this all that Realtors have to talk about.

NOV

Thanks for the comment Charles - I appreciate it - I wanted to make sure there was some information out to the realtors that read my blog I am a loan officer and we have had a lot of mis-information that it was a done deal weeks ago and wanted to make sure that everyone knows all of the details are not published yet and its awaiting President's signature.

I am not sure that it will solve the worlds problems - but its bound to impact some clients first time home buyers, and those that are contemplating moving up - I won't get into the politics of it all here but obviously jobs and retaining jobs is going to be key in keeping people able to buy homes.

Have a great day.

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