8000 tax credit: Tax Credit extension - 07/01/10 04:52 AM
Looks like the First time buyer tax credit has been extended.
The House voted it through earlier in the week and now the Senate has also approved H.R. 5623, the Homebuyer Assistance and Improvement Act, which also cleared the House earlier. The bill would give first-time home buyers until Sept. 30 to claim an $8,000 tax credit if they bought a home before April 30; for current homeowners, the credit is $6,500. The original period for claiming the tax credit had expired yesterday (June 30).
There are many happy home buyers and agents and Mortgage lenders alike that are very happy … (2 comments)

8000 tax credit: Buyers Still have a chance - 06/30/10 10:04 AM
The tax credit still has some life it. A single issue bill was voted on 409-5 last night to extend the deadline for buyers to close until September 20th, 2010. This deadline allows buyers to still qualify for the up to $8,000 tax credit.
 
It needs to be passed tonight as a final vote by the Senate and be signed by the President - all signs look good. Let's hope that those 180,000 contracts don't get stuck.
It is predicted that as many as half of those contracts could back out if the deadline is not extended.
Let's all keep … (0 comments)

 
Nicholas Goraczkowski, Your Mortgage Resource - (720) 83-RATES

Nicholas Goraczkowski

Your Mortgage Resource - (720) 83-RATES

Aurora, CO

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