Homebuyer tax credit extension still possible

By: Nick Bjork//June 29, 2010//

Homebuyer tax credit extension still possible

Nick Bjork//June 29, 2010//

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The U.S. House of Representatives passed a bill this afternoon that will extend the time homebuyers have to close a purchase of a home and still get the homebuyers tax credit.

Currently homebuyers can get a tax credit, $8,000 for first time homebuyers and $6,500 for those who’ve purchased a home before, if they sign a purchase agreement by April 30 and close the deal by June 1. If the bill is enacted, those who sign the purchasing agreement by April 30 will have until September 30 to close the deal.

The bill, , passed with a vote of 409-5 in the House and will now be proposed to the Senate before it can become law.