The previously discussed first-time homebuyer tax credit extension has not been passed.
However, it has taken a step closer to passing after the Senate voted 85-2 last night to cut off debate on the tax credit extension package.
According to this article, the move means the package is likely to be sent to President Obama for his signature this week. If approved as is, the $8,000 first-time homebuyer tax credit would be extended for homes that are purchased by April 30, 2010.
The extended credit would also be available for couples who earn up to $225,000, and would include a credit of up to $6,500 for current homeowners who upgrade their homes. The $6,500 credit requires a person to have lived in their current home for five of the past eight years. Some of the details behind the $6,500 credit are still sketchy, though, like the definition of an "upgraded home."
Check back to www.dripmarketingblog.com for more information on the possible first-time homebuyer tax credit extension.
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