Another Home Buyer Tax Credit Extension?

First Time Home Buyer Tax Credit Extension – 2010 Government Tax Credit Expires on April 30th
April 23, 2010

The first time home buyer tax credit extension has been a very hot topic but it does not appear as if the $8000 or $6500 tax credit will be extended past April 30th, 2010. Anything could happen at the eleventh hour but at this time there is not a bill for these credits to be extended or expanded.

In November of 2009 the Obama administration decided to not only extend the first time home buyer tax credit but to expand it as well. There is currently a $6500 tax credit for move up home buyers. If you have been living in your primary residence for five years or more you could qualify for the move up home buyers tax credit.

Over the next few days it will be very interesting to see what happens in terms of the first time home buyer tax credit. Many analysts feel as if the housing market could greatly struggle if this tax credit is not extended until later in 2010. Only time will tell what will happen but it should be an interesting conclusion to April.

(Article from www.subprimeblogger.com, Written by Tiffany Mann)