Sacramento Real Estate Views

First Time Home Buyer Tax Credit Vote Delayed

More Political Wrangling

Bloomberg is reporting that the U.S. Senate vote on the first time home buyer tax credit extension to all first time home buyers has been delayed until next week.

The delay is due to Senate Republicans demanding a vote to end the TARP by the end of the year.

Program Changed

The program, so it’s been reported, will include move up buyers who have owned their present home for the last 5 years will be eligible for a tax credit of up to $6500 over the same time period.

When the tax credit for move up buyers begins is unclear but I’m assuming it will begin on December 1, coinciding with the expiration of the first program.

Full details haven’t been released yet and even this may change between now and the vote that’s expected to take place next week.  Stay tuned!

Looking for your first home or to move up to a larger home?  Please contact us if we can help you.

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Related posts:

1. New California Tax Credit Bill Signed
2. Sacramento Home Buyers – YOU HAVE 37 DAYS TO BE IN CONTRACT!

Tags: first time buyer tax credit

This entry was posted on Thursday, October 29th, 2009 at 6:04 am and is filed under First Time Home Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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