While home sales are dipping due to the final days of the first time home buyer tax credit, congress is being urged by President Obama to extend the very successful stimulus for a few more months. If you haven’t purchased your first home yet, you might not be out of luck.
With talks in the works to extend the tax credit, congress is also discussing whether or not to change the credit to include all home buyers, not just first time home buyers. Instead of the $75,000 income limit for the first time buyer credit, congress is discussing setting a $125,000 limit, which would allow for many consumers to take advantage of this stimulus.
The new deadline being discussed is April 30, 2010. We'll keep you updated!
Don't forget to check out http://ping.fm/MvAn0 if you're thinking about using your tax credit to get out of debt.
Thursday, October 29, 2009
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