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First time homebuyer's tax credit ... friend or foe?

By: McCoy's Editorial Team

Don’t Let America’s Real Estate Recovery Expire

We were talking just the other day about the federal First Time Home Buyers Tax Credit and the fact that it was about to expire at the end of the year. However, there is some momentum in Congress discussing the possibility of trying to extend the credit. But as always, there is opposition as well.

Those in favor say the tax credit is stimulating home sales to first time buyers at a time when the housing industry needs all the help it can get. Some are even arguing to broaden who would qualify and raise the value of the credit. The opposition is saying that the program has already cost too much at a time we are looking at an unfathomable federal deficit.

First time homebuyer's tax credit update

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