At my link to the NewsVine I just posted a seed to a link from U.S. News and World Report entitled, Will the $8,000 First-Time Home Buyer Tax Credit Expand to $15,000?. Johnny Isakson is at it again. Last February when the stimulus bill got stalled in Congress, Isakson took the opportunity to get his idea for a $15,000 break for every new home buyer passed through the Senate. The House wouldn’t have it and the resulting $8,000 credit that did get passed was to many first time home buyers that I have spoken with, not enough motivation to take the plunge into home ownership. So now that you thought you knew what was going on, the rules may be changing, again.
In addition to increasing the credit from $8,000 to $15,000, additional details are as follows;
- Extending the tax credit deadline into the middle of 2010.
- Making the benefit available to all home buyers
- A tax credit to $3,000 for borrowers who refinance.
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As a property agent, i feel this post to be very useful. Thanks for the post. Wish to see more posts from you.
The expansion of the homebuyer tax credit isn’t such a good idea in my opinion. it’s gonna be too costly for our own good.
Thanks for your comment Imee.