First-Time Hombuyer ALERT Main Boise Home Loans
The first-time homebuyer tax credit of $8,000 appears to be headed for an extension.


Dear BuildIdaho.com reader:

The $8,000 first-time homebuyer tax credit is set to be extended until April 30, 2010. The Obama Administration has urged Congress to pass legislation to extend the program from its original December 1, 2009 deadline. In addition, legislation may provide a tax credit for some current homeowners.

More information will follow as this bill moves through the legislative process towards President Obama's desk for signing.

If you are interested in talking more about this post or a specific mortgage scenario, feel free to call me at (208) 880-0316, or email me at [email protected]. You can also visit my website at http://www.ericsloans.com.


Eric Leigh, Mortgage Consultant
2965 E. Tarpon Drive, Ste. 150
Meridian, ID 83642
(208) 880-0316
[email protected]
Posted by Eric Leigh at 10/30/2009 3:37:00 PM
Comments (2)
Re:First-Time Hombuyer ALERT
As of Wednesday morning, a tentative compromise was struck to extend the homebuyer tax credit and plans were being made to attach these proposals to "must pass" legislation extending unemployment insurance. Unfortunately, due to partisan politics on unrelated issues, specifically, the number of amendments that will be allowed to be offered, the bipartisan compromise on the homebuyer tax credit and NOL will not be allowed to be added to the unemployment insurance legislation.

As both parties continue to argue, the homebuyer tax credit and NOL amendment will be stalled and our window to get these critical economic incentives passed will close. We anticipate that the House of Representatives will take up the unemployment insurance legislation once the Senate has passed it, possibly before the week is out. This means that the extension of the tax credit and expansion of NOL could be sent to the President to be signed into law in a matter of days!

Today, it was reported that after five consecutive months of increases, sales of newly built, single-family homes fell 3.6 percent, leading many to conclude that the housing recovery will lose momentum after the homebuyer tax credit expires on November 30.

The homebuyer tax credit and the NOL provisions are the best chance for us to "revive housing and restore America." We cannot afford to let partisan bickering stall the housing recovery and plunge this economy back into recession.


? Call your senators and tell them to urge the Senate Leadership to stop playing partisan games and pass the homebuyer tax credit extension

? Call Majority Leader Harry Reid at 202-224-5556 or 202-224-3542 and Minority Leader Mitch McConnell at 202-224-3135 or 202-224-2541, and tell them to allow the unemployment insurance bill to advance with the homebuyer tax credit

President / Builder ? Chuck Miller Construction Inc.
(208) 229-2553
[email protected]
Posted by on 10/30/2009 10:45 AM
Re:First-Time Hombuyer ALERT
I called all my congress / senators---support AFFORDABLE HOUSING and stop taxpayer rape! Say no to the housing credit
Posted by on 10/30/2009 4:24 PM
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