Today I was able to participate on a conference call with Senator Chris Dodd regarding the home buyers tax credit. As Chairman of the Banking Committee Senator Dodd has worked extremely hard to help first time home buyers. Senator Dodd gave us the good news, the $8000 first time home buyers tax credit will be extended until April 30, 2010. In addition, there will be a $6500 tax credit for those interested buyers that have lived in their homes for five consecutive years and are interested in moving up.
Also, the income limit to qualify for these programs has been increased to $125,000 for a single and $225,000 for a married couple. The Senator expects the President to sign this tomorrow so the program will remain continuous and seamless. This is great news for the economy and the housing market.
We welcome everyone to contact the Senators office and just tell his staff THANK YOU.
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