Extending the Home Tax Credit... A Good Idea?

The proposed extension simply provides buyers an extra 90-days to complete the purchase.

Under current terms, buyers had until April 30 to put a property under contract and until June 30 to close the sale.

Thursday Senate Majority Leader Reid said "he wants to give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000."

Call me a cynic... but from my perspective... Reid's futile plan will benefit a select few. If the vote pandering politician was serious about helping, then he should seek to extend all aspects of the credit, enabling first-time buyers to be eligible for a tax credit of up to $8,000 and current owners who bought and moved into another home could qualify for a credit of up to $6,500.

We vote they leave it as is or open it up for everyone... What are your thoughts?

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Wayne and Lynda Gomillion
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