Florida Mortgage Trends

Extension of Tax Credit?

October 29th, 2009 12:01 AM by Scott Bray

In the next few weeks, the First Time Home Buyer Tax Credit will end.  However, there is growing momentum on Capitol Hill for its extension.  There are two plans that are being considered.  One calls for a phased out expiration of the current credit through the end of 2010 where the tax credit gets smaller and smaller as the year progresses.  The other plan is calling for an extension through at least June of next year but also wants to increase the amount of money the homeowner can make to qualify and to extend to any home buyer and not just first time buyers.   Some people feel that the housing market will suffer another setback if the credit is allowed to expire while others say it is a bad idea to extend the credit.  

Which proposal do you like - or do you think the government should allow it to expire 11/30/2009?

Posted in:General
Posted by Scott Bray on October 29th, 2009 12:01 AM


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