Obama Signs First-Time Homebuyer Tax Credit Extension

Obama signs homebuyer tax credit extension. potential homeowners with offers currently under contract now have until September 30 to close the deal, instead of the original June 30 deadline. The tax credit remains at a maximum $8,000. The Senate approved the bill late Wednesday evening, a day after it passed the House of Representatives.

Senate Banking Chairman Chris Dodd wants to attach a six-month extension of the $8,000 first-time homebuyer’s tax credit to pending legislation extending jobless benefits. The credit is.

The homebuyers’ tax credit has been extended to April 30, 2010. President Barack Obama approved the extension as part of a $24 billion economic stimulus bill signed Friday.

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NEW YORK (CNNMoney.com) — While momentum is building on Capitol Hill to extend the $8,000 first-time homebuyer credit, President Obama’s housing secretary said Tuesday the administration has not.

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Congress voted to extend and expand the federal homebuyer tax credit, and President Obama is expected to sign the bill today, effective immediately. It will be as if the november 30th deadline of the previous first time homebuyer tax credit had never existed. Transactions that close after the new bill is signed into law will be subject to the new.

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 · UPDATE Nov 6: According to UPI, President Obama has signed this legislation.NOW it’s official. The extension of the existing $8,000 tax credit for first time homebuyers is now all but a done deal.. Moments ago, the House of Representatives passed HR 3548 “” The Unemployment Compensation Extension Act of 2009 with a vote of 403 -12. “Whoa, hold on there Jay.

The U.S. House has already passed an extension of unemployment benefits, but must still approve the homebuyer tax credit. Barack Obama is expected to sign it. Under the amendment passed by the.

The Federal Government signed into law a $8,000 tax credit for first time homebuyers and a $6,500 tax credit if you’ve owned a home for 5 years. Lets focus on the $6,500 credit. To clarify, it means you’ve must have lived in a primary residence for 5 continuous years within the last 8 years.

Home Buyer Tax Credit Expansion Heads to Obama. It gives up to $8000 for first time buyers (defined as not having owned a home for the past three years) and up to a $6500 credit to move-up buyers who have owned and occupied their current homes for at least five years. Again, you have to be an owner occupant of this primary residence,

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