Many rumors going on!!! However, the lates update is that the credit most likely be extended to April 2010. The house is trying to expand the bill to assist everyone!!! $8,000 for 1st time home buyers and possible $6,500 for existing homeowners. They are talking to modify the annual income from less than $125,000 up to $225,000.
If that's not enough they home value will be for $800,000 homes or less and the contract must be signed by April 30, 2010 and settlement shall take place by June 30th!!!
I will keep you posted as development continue!!