Will the First Time Homebuyer Tax Credit be extended?
NO. Part of the language in the bill agreeing to extend the First Time Homebuyer Tax Credit (to April 2010) stated that the credit would NOT be extened again (poison pill).
The Tax credit has been exteneded until April 30, 2010. However, purchasers who have binding contracts as of April 30, 2010 (before May 1, 2010), would still qualify for the credit as long as they complete the transaction within 60 days (or June 30, 2010). click here for more information http://www.car.org/tools/smart/new/homebuyertaxcredit/.
Please get the word out that this is the opportunity of a lifetime to purchase real estate!! Rates are at lifetime lows, prices are at lifetime lows, dont miss the boat!
Alot of folks are still sitting on the fence thinking this will get extended again (not going to happen).
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