First Time Home Buyer Tax Credit Extension – Obama Helps You Save Money Today
Posted on | February 23, 2010 | 1 Comment
President Obama has done a great amount of hard work to help Americans save money. One way he has done this is through the first time home buyer tax credit extension. At the beginning of November President Obama and his staff realized that the first time home buyer extension was need to help Americans and the housing market.
After much debate the first time home buyer tax credit was extended through April 30th, 2010. Not only was the tax credit extended but it was also expanded. First time home buyers still have an opportunity to get a check for $8000 but now move up buyers have a chance to receive a check for $6500.
If you have lived in your current residence for more than five years then you could receive a check for $6500 for moving up. This could greatly help you to sink more equity into your home or help you pay other bills or the closing costs. This check could be just what you need to make the final decision on a new house.
President Obama continues to work hard for the American public and do no be surprised if there are more benefits for home buyers in the near future. In the next few months we are likely to find out if the first time home buyers tax credit will be extended once again.
Author: Heather Best
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One Response to “First Time Home Buyer Tax Credit Extension – Obama Helps You Save Money Today”
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February 23rd, 2010 @ 2:19 pm
As a first time home buyer, can I receive the full $8,000 for a home purchase that has a sales price of $101,000? Will the $8,000 go directly to the seller as part of my down payment, or will it be used to pay for closing costs, or does the $8,000 come directly to me. I need as much help as I can get and would like the $8,000 to go towards the purchase of the home for me and my 2 kids, ages 1 and 4.