"Home Buyer Tax Credit"

The Administration initiative to help move the real estate inventory looks like its beginning to work.
Now the Senate is working on extending the tax break until 2010 and taking the cap to $15,000.00 plus also give a credit to those who refinance.

For more information read below. E.V.

The first-time home buyer tax credit of up to $8,000 has helped to move housing inventory during an otherwise sluggish real estate cycle, according to industry analysts. Now both legislators and the business community are hoping to build on the incentive’s success by expanding it.A number of bills have been introduced in the House and the Senate that lobby for an expansion of the measure. Among the proposed changes: Setting a new cap of $15,000. Extending the tax break into mid-2010. Making the benefit available to all home buyers, not just first-timers. Offering a separate tax credit to $3,000 for borrowers who refinance.