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!

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Tags: first time buyer tax credit

FTHB Tax Credit Update

Partisan Wrangling in Senate Could Postpone Vote

The First Time Home Buyer Tax Credit is up for a vote in the Senate  but do to the attempt to attach it to legislation regarding the extension of unemployment benefits, it will, in all likelihood, be delayed.

Hopefully they’ll get it done later in the week.

Click here for the update.

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Tags: first time buyer tax credit