The Senate has approved extending the Tax Credit and has added a new provision that would allow non-first time homebuyers to get a claim for $6,500. The extension would run through June as long as there is a signed REPC by April.
At this point, the Senate is also trying to add some other provisions to the bill related to unemployment insurance and business loss tax credit. With that, it has to get approved by congress and then signed into law. The important thing here is that both the House and the Senate are in agreement on extending the Housing Tax Credit. So there is little doubt that it will get signed into law. However, IT IS NOT officially law just yet.
What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com
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