Home Buyer Tax Credit Law Revised

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Yesterday the Senate revised the Home Buyer's Tax Credit Law to extend the $8000 tax credit for first time buyers until the end of April 2010, with a closing by the end of June. They also raised the income limit to $125m per individual and $250m per couple. Additionally, they added a tax credit of up to $6500 for current home owners who have been in their house for at least 5 years, but want to buy a different home.