First-Time Home Buyer Credit – Extension Update

The current First Time Home Buyer's Credit is due to expire on November 30, 2009. That means if you have not closed on a home by that date, you will not receive the credit.

There has been a lot of discussion and press about possible extension of the benefit. Different sources are reporting there may be an extension and some changes in the benefit. We might see something official this Friday. There is a bill in the senate to extend unemployment benefits, the first-time home buyer credit(with changes and extension) has been added onto that bill as an earmark.

I will not blog about what might be in the earmark. But as soon as I hear (if) there is an official extension or change I will let you know.