Tax Credit Update!

We've heard from a lot of you this morning that saw news reports about the tax credit. The bottom line is that nothing has been voted on at this time. Here is today's update:
Senate leaders of both parties, key Senate Finance Committee members and staff, and the homebuyer tax credit sponsors Sen. Chris Dodd (D-CT), Sen. Joe Lieberman (I-CT, and Sen. Johnny Isakson (R-GA), have reached an agreement on extending and expanding the housing tax credit. However, right now, there is no agreement on how to attach this tax credit to the pending Unemployment Insurance bill, or whether to offer the tax credit agreement as an amendment to another bill, or whether to bring the agreement to the Senate floor and vote upon it as a separate, stand alone bill.
After Senate action - if passed - the legislation must still go to the House of Representatives for consideration. There are still a number of steps to take before anything is final. We will continue to keep you updated as we receive additional information.
In the meantime, please continue to encourage REALTORS to respond to the homebuyer tax credit Call for Action. Thank you for all the phone calls you're making - the Senate is hearing you loud and clear.