As expected, the U.S. House of Representatives decided today to extend and expand the first time homebuyer tax credit. The legislation passed with a vote of 403 to 12.
First Time Home Buyers
Now that it has passed both the Senate and the House, it will be forwarded to President Obama for his signature.
The extension to the homebuyer tax credit is part of H.R. 3548 Unemployment Compensation Extension Act of 2009 and was added through Senate Amendment. 2722.
Yesterday I provided the actual text of the amendment as it pertains to the extension, modification and expansion of the first time home buyer tax credit while reporting on the Senate vote.
Today, Jay Thompson, a known real estate expert, provided a good summary of the details of the extended home buyer tax credit on his site. I recommend reading it.
For more detailed information on the first time home buyer tax credit click here.
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