First Time Home Buyer Tax Credit Extension – Credit Checks of $8000 and $6500 Expiring Soon
Posted on | March 31, 2010 | No Comments
The first time home buyer tax credit extension is something that is likely to be a very popular topic over the next several weeks. On April 30th, 2010 the tax credits of $8000 and $6500 will expire. Buyers who are under contract after this date will not be able to receive their first time home buyer tax credit check.
The Obama administration is likely to consider many alternatives to the first time home buyer tax credit extension. Last November, the administration decided to expand and extend the credit. It is now the case that Americans looking to move up can receive a tax credit of $6500. If you have lived in your current residence for more than five years you can receive this tax credit.
It will be very interesting to see what those in Washington do this time around. There are many signs that have pointed towards more problems in the future when it comes to home prices. If home prices do not start to move higher in a strong way then there is a chance that many housing markets could see another drop very soon.
With this in mind there is a very good chance that a first time home buyer tax credit extension will be considered. At this point no one knows what will happen but it is something that must be mulled over in the next few weeks as this is a very important part of the American economy.
Author: Mike Garner
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