President Will Sign Bill to Extend Home Buyer Tax Credit Today

The waiting is finally over. This afternoon President Obama is scheduled to sign a bill passed by the Senate that will extend and expand the Home Buyer Tax Credit. First Time Home Buyers will have until April 30 to have a home under contract and until June 30 for the transaction to close. In addition, a $6500 tax credit will be available for existing home owners who have lived in their current residence for at least 5 years and buy a new home during this same time period. According to an article in today's Houston Chronicle (http://www.chron.com/disp/story.mpl/ap/washington/6706693.html), approximately 1.4 million first time home buyers had qualified for the credit through August, 2009 and 350,000 of those would not have bought without it. For more information on the Home Buyer Tax Credit go to: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit?lid=ronav0019.