The White House has confirmed that President Obama will sign into law an extension on the federal tax credit to first time home buyers sometime this weekend. The bill, which also includes an expansion for prospective buyers that already own a home, passed in Congress just days ago. The tax credit was due to expire at the end of November, however, members of Congress worked hard to renew the important economic stimulus package.
Congress has extended the $8,000 tax credit to new home buyers by seven months. They also added a $6,500 tax incentive to those buyers who currently own a home and have lived there for five years or more.
http://cbs11tv.com/national/congress.jobs.homebuyers.2.1293300.html
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