The Senate voted Nov 4 to pass an extension of the first-time homebuyer tax credit until April 2010.
The bill is currently amended to include the extension of an $8,000 tax credit for those buying their first homes as well as an $6,500 tax credit for some borrowers buying a home for a second time.
The bill now requires President Obama’s signature into law which is expected to happen today, Nov. 6. 2009
Passed as an amendment, the tax credit can still be removed from the final wording of the bill, if placed under further review. However due to presidential support, this remains unlikely.