Thursday, June 25, 2009

Push for an expansion of the first time home buyer tax credit?

We blogged about the $8000 tax credit back in February, but there are some new proposals in the works in Washington. Both legislators and the business community are hoping to build on the $8000 tax credit. 
A number of bills have been introduced in the House and the Senate and among the proposed changes are:
* Setting a new cap of $15,000.
* Extending the tax break into mid-2010.
* Making the benefit available to all homebuyers, not just first-timers.
* Offering a separate tax credit to $3,000 for borrowers who refinance.

We will keep you updated as more information is released. To learn more about the $8000 tax credit, be sure to visit our website.
We look forward to assisting you with all your real estate needs!