Notice of Sale, and Notice of Defaults are up from last week, but still low from previous weeks
{ Posted on 6:31 PM
by JR Erickson
}
Good news everyone! the Tax credit has been extended for First time homebuyers. There is also a tax credit for repeat buyers of $6500. It seems that congress knows that the economy is still pretty fragile, and if the home buying stops it might send it back into a deep spiral (see the press release below). Filings are up from last week, but still down from other months.
WASHINGTON (MarketWatch) -- Senators have struck a deal to extend a popular tax credit for home buyers beyond those buying their first house, Senate Majority Leader Harry Reid's office said Wednesday.
Legislators also have agreed to extend the tax credit through the end of April, according to a Reuters report.
An $8,000 credit for first-time home buyers is set to expire at the end of November. Under a compromise reached by senators, the credit would be expanded to those who have lived in their home for five consecutive years, a Reid spokeswoman said.
The credit for repeat buyers would be $6,500.
The credit reportedly would be available for individuals making up to $125,000 a year and couples earning up to $225,000 per year, up from the current income limits of $75,000 and $150,000, respectively.
Reid wants to attach the tax-credit measure to a bill that would extend unemployment benefits.
