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As part of its plan to stimulate the U.S. housing market Congress has passed new legislation that:
Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. .
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Friday, November 6th, 2009 at 7:35pm.221 Views, 0 Comments.
The Senate voted 98-0 on Wednesday and Thursday the House voted 403-12 on legislation that includes the extension and expansion of the credit. The President is expected to sign the legislation, perhaps as early as today.
Here is a summary of the new home buyer extension and modifications.
Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. .