Homebuyer Tax Credit: nearly half of all Americans who claimed it in 2009 must repay

Homebuyer tax credit: 950,000 must repay - CNNMoney.com
NEW YORK (CNNMoney.com) -- Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government ...

ttrco

Great News for Home Buyers with Extention and Expansion of Home Buyer Credit

We received the following E-mail recently from the Realtor® Action Center

Dear Robin,

You did it. You’ve succeeded in achieving a huge victory for real estate. Congress heard you on the need to both extend and expand the homebuyer tax credit to continue stimulating the housing sector of the economy. The Senate voted 98-0 on Wednesday and yesterday the House voted 403-12 on legislation that includes the extension and expansion of the credit. The President is expected to sign the legislation, perhaps as early as today.

Thank you for making this victory happen. Your letters in response to our Call for Action made a very big difference, as did the thousands of REALTOR® phone calls, visits by Federal Political Coordinators—all members of NAR—in getting this legislation passed. This is a great victory for the economy, for homebuyers, and for all of you in real estate. You made your case to Congress. We deeply appreciate your commitment and involvement on this issue and trust your continued support will follow in the weeks ahead on all our future Calls for Action.

More information on the tax credit and what it means to you:

• Changes to the Homebuyer Tax Credit Law


• Frequently Asked Questions About the New Bill


• Listen to NAR President Charles McMillan's Podcast About the Bill Passing


• See How the House Voted In Depth: 2009 First-Time Homebuyer Tax Credit


• Watch the Entries in the Tax Credit REALTOR® Party Video Contest

ttrco

This Week in Washington DC: Discussion of Extention of the Homebuyer Tax Breaks

One of the items under discussion in Washington D.C. this week:

Homebuyer Tax Breaks: Speaker Nancy Pelosi said the House may extend and
possibly expand the $8,000 tax credit for first-time homebuyers that is
currently due to expire Nov. 30. Those in favor of the action say the tax break
has given a much needed boost to the mortgage industry. Those against it say the
government needs those funds so it doesn’t have to raise taxes elsewhere. They
suggest that the tax break be reserved for those who buy homes in the
weakest markets or in areas that are plagued with foreclosures.

Click here to express your opinion on this issue.

Click here to view the R&P Report from National Write Your Congressman as a PDF

ttrco