First Time Home Buyer Tax Credit May Be Extended into 2010

Currently there are bills before the U.S. House and Senate that would extend the highly popular first-time home buyer tax credit into 2010. Currently set to expire on November 30, 2009, the maximum $8,000 tax credit has been a highly successful tool in spurring the dismal housing market. There is discussion in Congress to not only extend the credit, but also raise it to a maximum of $15,000 and allow it to apply to all buyers, not just first-time home buyers. If any form of the this extension passes, this will have a huge positive impact on housing and home prices across the board.