| The first time home buyer tax credit extension is likely | | | | moving up they can receive a credit for $6500. These |
| to be on the minds of many first time buyers. The | | | | buyers also have to be under contract by the end of |
| 2010 tax credit for $8000 is set to expire on April 30th | | | | April. |
| and many buyers are concerned that they will not be | | | | With just a few short weeks left in the month of April |
| under contract by this time. The rules of the first time | | | | many Americans are concerned that they will not be |
| home buyer credit state that the buyer must be under | | | | under contract to receive this credit. Unfortunately, |
| contract by April 30th, 2010 or they will not qualify for | | | | there has been no bill passed to extend the credit as |
| the credit. | | | | of yet. This could change at any time as President |
| In November of 2009 the Obama administration | | | | Obama and his staff know just how important the |
| decided to extend the original first time home buyer | | | | housing market is to the overall economy. If the United |
| tax credit. Not only did they extend it until April of 2010 | | | | States sees further decline in housing prices then it |
| but they also expanded it to move up home buyers as | | | | could cause a double dip recession which would be a |
| well. If homeowners have lived in their primary | | | | very bad set of events especially with the |
| residence for more than five years and they plan on | | | | unemployment rate still very close to 10%. |