Obama Considering Extension For First-Time Home Buyer Tax Credit

1.4 Million families have already taken advantage of the $8,000 tax credit as part of the 2009 Recovery and Reinvestment Act. This week Robert Gibbs, Press Secretary to President Obama, shared that the White House is currently deciding whether or not they will extend the First-Time Home Buyer Tax Credit, which is set to end December 1st, 2009. Although Gibbs did not say which way the President was leaning, there has been much speculation both the White House and Congress are leaning towards an extension. For those of you that have yet to open escrow and don't think you'll be making the November 30th closing deadline, hopefully this extension will help you reach your real estate goals in 2010!