$8,000 for first-time buyers extended through next June.

Credit expanded to $6,500 for current home owners who qualify.

Discuss.

i bought a home (new construction) in august of 08. I got the 7500 tax credit but it was the deal where you had to pay it back in 15 years at 500/year. That sucks. If I would have waited a few months I could have gotten 8K free. So i guess that is what I get by trying to stimulate the economy!!!

Did the extension and $6500 for homeowners who buy a house after living in their old house for at least 5 years for sure go through? Last I heard it was still being discussed.

I don't know if it was the best decision for the country or not, but I will love Uncle Sam come tax time next year.

Sucks to be me...$6500 if you've lived in your house for 5 years. Well, I have, and I bought a new house - closed on 10/9/09...

...but to get the credit you have to have sold after 11/7/09.

I understand why (awarding the credit after someone already sold/bought doesn't create an incentive), but damn, that cash would have been nice.

Timing is everything.

Makes you want to be everywhere.

Amen to that. There had actually been some talk of expanding it to $15,000. I was dissapointed as a new homeowner but relieved as a taxpayer.

FYI for anyone filing for the homebuyer's tax credit. Attach a copy of your SIGNED HUD-1 settlement statement. I was also advised to attach a copy of my NYS Driver's License with my new address along with car registration and a bank statement also with the new address. Not sure if these last few things were actually necessary but the HUD-1 form definitely is. Also, the credit cannot be filed electronically so you either need to file the entire thing as a paper return or do an electronic return and then amend it with the tax credit. I did the latter because I wanted my return a little quicker. I just got it and mailed in my amended return and should have my credit within 8 weeks. Or so I was told.