Saint Clair Homes

The National Association of Realtors has released a document outlining the newest changes in the Homebuyer Tax Credit. It may be helpful to highlight the most important changes. You may read it here or click on the link below to download the document for yourself.

Tax Credit Changes 2009

Senate Clears Homebuyer Tax Credit Extension to Pass This Week

The Senate last night cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. The legislation will reach President Obama for his signature this week.

The homebuyer tax credit, due to expire in 28 days, would be extended through April 30 of next year. First-time buyers who are in process of making a purchase would not need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.

For the first time, the legislation cleared last night makes move-up buyers as well as first-time buyers would be eligible for a credit.