First Time Home Buyers Tax Credit Extension and Expansion Passes House; Obama’s Signature Needed
Posted on | November 5, 2009 | 3 Comments
The first time home buyers tax credit extension and expansion, HR 3548. has passed in the House with a vote of 403-12. The only thing left to get this extension signed into law is President Obama’s signature. President Obama has been supportive of the extension for quite some time so it should not be an issue and it should be signed into law as soon as possible.
The extension pushes the $8000 first time home buyers tax credit back to April 2010. It has also been expanded to move-up buyers who have been in their current residence for more than five years. These move-up buyers will receive a tax credit of $6500. This is sure to help create interest in the housing market and should further stabilize and possibly increase home prices.
Subprime Blogger has been on top of the first time home buyers tax credit extension issue for quite some time. We began talking about this issue as early as September and have had some great commentary on the subject. If you are a first time home buyer or move-up buyer please return to Subprime Blogger to get your daily mortgage rates or any mortgage news you might be looking for. We also offer a great deal of business and financial news that might make your life a little bit easier.
Author: Jesse Wojdylo
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3 Responses to “First Time Home Buyers Tax Credit Extension and Expansion Passes House; Obama’s Signature Needed”
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November 5th, 2009 @ 1:16 pm
[...] First Time Home Buyers Tax Credit Extension and Expansion Passes House; Obama’s Signature Need… [...]
November 5th, 2009 @ 2:27 pm
I lived in my condo for the past 6 years and bought a home in August 2009. Do I miss out on the $6,500 b/c I closed in August? Why wouldn’t the extension be retroactive?
November 5th, 2009 @ 11:18 pm
I lived in my condo for the past 9 years and bought a home in sept 2009. Do I miss out on the $6,500 b/c I closed early? Why wouldn’t the extension be retroactive?