Home Buyer Tax Credit Extended

Today, the President signed  a new bill to extend unemployment benefits to the hardest hit states with high unemployment for an additional 20 weeks, included in that bill is an extension to the very popular home buyer tax credit.

The tax credit will be extended through April 2010.  It provides $8000 for first time buyers (those not owning a home within the last 3 years) and up to $6500 credit for move-up buyers who owned and occupied their current home for at least 5 years.  Income levels were also increased to include additional families seeking to move and take advantage of the tax credit.

Read additional reactions from Bankers, Builders and Realtors below.

MBA Applauds Passage of Homebuyer Tax Credit

BUILDERS APPLAUD CONGRESS ON EXTENDING HOME BUYER TAX CREDIT

Tax Credit Extension a Positive Step Toward Sustained Real Estate Recovery, Say Realtors

Source : CNBC.com