Home Buying Tax Credits To Likely Be Expanded To Include First Time Buyers and Previous Home Owners

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the Senate voted Wednesday to extend and expand the tax credit to include many buyers who already own homes. The House is scheduled to vote on the bill Thursday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

See the rest of the story here: http://news.****/s/ap/us_homebuyers_tax_credit

Good to know

I look at this as second chances for prior home owners and first time home buyers. It also give investors the opportunity to allow buyers to realize their dreams of home ownership at reduced prices. We have to capitalize on this and at the same time increase our net worth. Let look at it this way for the new comers. What will it take for you to get that first deal before this tax credit goes away forever? Dean, thanks for sharing with us, this is wonderful news. God Bless.


Good to Hear

I hope it will be approve. The house at the back of my house was foreclosed and I am interested buying it. I am just waiting for the right time and the right price applying what I have learned from reading Dean's book....dom

Great to hear!

Luiz's picture

good information this may help me with my investor's pool!

Partners In NC

My husband and I are new to this and we need some guidance. We was wondering is there anyone doing this program in NC willing to give us a few pointers or partner up. Please let me know.

Waiting for a response

My RE agent send me 20 properties & waiting for a response to my flyers & letters that i send to owners.
I'm just waiting for now & really excited to negotiate wlth a good killer deals on these!
Can't wait to offer to my list of buyers/investors.

Glad to know

Thanks for the latest information regarding the extension of tax credit. I'm sure a lot of DG members will try to buy their second home since it's been extended till July 1, 2010.
If given the chance, i would definitely purchase one either this year or early next year !!

Great News

Jan Malek's picture

Like Dean said, We won't fix the economy but we will be a huge part in saving it, all with Real Estate Investing.

Wonderful News !

This is great to hear because I just bought my first home and will be closing in December ..

Good Luck to everyone .



I am new at this and I hope I am not doing something wrong in sending this.
I couldn't find the news for the HOME BUYERS TAX CREDIT
I went to the web site indicated for that buy it says that it can't be found. If anybody know about this will you please let us know, probably there are some more people that could't find it. Thanks for the help.

Re: Feedback

This feedback is a great idea as it inspires others based on actual amount read as well as action done thus far. To see more and more students succeed is very inspiring.

This is good!

Carol Stinson's picture

This is good news. The original credit was truly an asset to many investors who flipped properties during the stimulus. This will also assist investors currently purchasing rehabs as long as they can flip them by April. So everyone better get busy!!

Partners in NC

Hi I am sorry for being silly, but are you referring to NYC, because if you are, you are not alone. I also looking fro pointers.

Syndicate content