Congress Extends Homebuyer Tax Credit

The Senate passed the bill earlier this week and today, Congress passed the bill extending the homebuyer credit until April 30, 2010. Now it goes to the President for signature.

Summary:
1st Time Homebuyers - can't have owned a home for 3 years, credit is up to $8,000.
Subsequent homebuyers - must have owned your home for 5 out of the past 8 years, credit is up to $6,500 for joint filers and $3,200 for separate filers.

For more details, go to: http://www.realtor.org/fedistrk.nsf/files/government_affairs_tax_credit_ext_chart_110409.pdf/$FILE/government_affairs_tax_credit_ext_chart_110409.pdf