Popular 1st Time Buyer Tax Credit May be Expanded
The 1st Time Buyer tax credit that expires Nov. 30, 2009, for $8,000 off your taxes if you haven't owned your principal residence in the last 3 years, may be expanded.
Legislation introduced in Congress this week would include any home purchaser, and increase the maximum to $15,000.
U.S. Sen. Johnny Isakson, a Georgia Republican, introduced the legislation, and Senate Banking Committee Chair Christopher Dodd, a Connecticut Democrat, quickly stepped up to co-sponsor.
The National Association of REALTORS® and the National Association of Home Builders have said they would like to see the tax credit improved.
If you would like to see this passed, contact your Senators and Representative.
Sherry Armstrong, Realtor
www.sherryarmstrong.com