Eugene Loan Guy

Every day that goes by, the First Time Home Buyer Tax Credit deadline gets closer. I know there are a lot of people that think the tax credit will be extended, but I am not one of them. Yesterday I received news that the House of Representatives passed a bill 416 to 0 to extend the tax credit for 6 months. I know this is what people have been expecting, but there is a twist, this only applies to services members that served a minimum of 90 days overseas in 2009.

Now, I think this is a great deal for our service members, but to me it portends to the probability that Congress will not extend the tax credit for other First Time Home Buyers. This bill still needs to be passed by the Senate before it can be sent to the President, but it should sail through with very little disagreement.

To illustrate the limited time remaining, this recent report from myFox in Florida interviewed a friend of mine, Chris Brown, the author of Mortgage Chili Blog, and a mortgage professional in Orlando. I really think this is one of the best reports on the Tax Credit that I have seen.

If you need assistance in getting started purchasing your first or subsequent home, give me a call today at 541-342-7576/541-221-3455 cell or e-mail me. The time really is running out for the Tax Credit.