Obama Signs First-Time Homebuyer Tax Credit Extension

Obama signs the First Time home buyer extension.. a collective sigh of relief.. the stimulus bill will extend the 8,000 dollar tax credit to First time home buyers from the current deadline of November 30. until May 1, 2010.. Mostly I am happy that the extension happened for the people.

How did they sign up for the program anyway. The two spikes in existing home sales were due primarily to the first time homebuyer tax credit (the initial credit last year, followed by the extension.

WASHINGTON, Oct 26 (Reuters) – The U.S. Senate should act later this week to extend a $8,000 tax credit for first-time home buyers. Obama on an Air Force One flight to Florida. “The existing law.

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By the end of his first term, President Obama will have signed into. earned income, American Opportunity, and first-time homebuyer tax credits.. In addition , the deal extended a variety of business tax cuts and incentives,

Fed economist pushes homebuyer down payment subsidy Consider down payment assistance. Many first-time homebuyers overlook down-payment assistance programs that may be available to them through state and local housing authorities. They often assume that these programs are for low-income buyers only, says Rob Chrane, president of Down Payment.

[See New Home Buyer Tax Credit: 7 Things You Need to Know.] 1. Roots and impact: A tax credit of as much as $8,000 for certain qualified first-time home buyers was included in the Obama administration’s sweeping economic stimulus package, which the president signed in mid-February.

Last Friday, President Obama signed a bill to extend the $8,000 first-time home buyer tax credit to April 30, 2010. In addition to the extension for first-timers, it also added a provision to provide a tax credit of $6,500 to home owners who have lived in their current residence for at least 5 years who are looking to buy a replacement home.

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The Obama. will sign it,” the Connecticut Democrat told reporters, adding that he was convinced House Democrats “see the value of this.” Dodd and other senators agreed this week to extend the.

WASHINGTON, Sept 17 (Reuters) – U.S. Treasury Secretary Timothy Geithner said on Thursday the Obama administration has not yet decided whether to extend the $8,000 first-time homebuyer tax credit but.

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RISMEDIA, November 9, 2009-President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010. The extension is part of a $24.

Repaying the First-Time Homebuyer Credit. The homebuyer credit is repaid as an additional tax on your federal tax return if you bought your home and qualified in 2008. This works out to annual repayments of $500 per year if you received the maximum $7,500 credit. Think of it like an interest-free 15-year loan.