Extension of Federal Housing Tax Credit – Obama Administration Allowing Homebuyer Tax Credit to Expire on April 30th, 2010
Posted on | April 29, 2010 | Comments Off
Many current and future homeowners are wondering if there is going to be an extension of the Federal Housing Tax Credit. At the present time it looks as if the Obama administration is going to allow the homebuyer tax credit to expire on April 30th, 2010. With this being the case many of those in the housing market are going to look to close by April 30th, 2010 to receive the tax credits of $8000 or $6500.
President Obama and his administration decided to extend and expand the first time home buyer tax credit in November of 2009. Not only did they extend the first time home buyer tax credit but they also expanded it to the move up homebuyer tax credit as well. While this has greatly helped the overall housing market it looks as if these credit will be coming to an end on Friday.
At the present time mortgage interest rates are very low and home prices are affordable. It might be a smart decision to take action today so you have an opportunity to save up to $8000 with a Federal Government tax credit.
Author: Heather Best