$8000 Tax Credit May Be Extended And Rise

One of the most popular topics with new home buyers is the new $8000 tax credit for new home buyers. There is no doubt that for first time home buyers, this tax credit has been a strong incentive to purchase a home – and the entry level home market has seen improvement as a result.

Now there is talk about extending the tax credit until 2010 and raising it to $15,000 as well.

Current Proposals:

• A Senate bill to expand the tax credit to $15,000 for any home buyer regardless of income was introduced by Sen. Johnny Isakson, R-Ga. It is co-sponsored by Senate Banking Committee Chairman Chris Dodd, D-Conn.

• A House bill to keep the $8,000 credit in place until June 2010 and expand it to all home buyers by Rep. Kenny Marchant, R-Texas. It also would provide a $3,000 credit to homeowners who refinance.

• Another bill in the House, introduced by Rep. Eddie Bernice Johnson, D-Texas, would extend the credit to all home buyers through 2010.

For more valuable information please go to I Want to Buy my Home at the Bottom.

If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.