Senators agreed yesterday in an 85 - 2 vote to extend the $8500 tax credit for first time homebuyers through April 2010 to a final vote. Senior members of congress expect the bill to pass next week.
Even bigger news is the tax credit may expand to repeat buyers that have owned their current home for at least 5 years, allowing those homebuyers to receive a tax credit of up to $6500.
Qualifying home buyers who are in an executed contract by April 30, 2010 will have through the end of June 2010 to close on their next homes and be eligible the tax credit if the measure is passed.
Stay tuned for more information!!!!
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