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First time Home-Buyer Tax Credit Extended - 11/11/2009

Home-buyers still have a chance to use a federal tax credit.

Congressman Maurice Hinchey helped secure legislation that will extend the $8,000 federal tax credit for first time home-buyers, and create a new $6,500 tax credit for people who have bought a home in the last five years.

Hinchey says it was important to extend this legislation through April 30th of 2010, because it's been a successful law so far.

"It provides opportunities for people to buy homes who wouldn't have the opportunity, because the $8,000 provides them with the incentive they need, and the additional financial help they need to actually buy that house," said Rep. Maurice Hinchey, (D) 22nd District.

Hinchey says he doesn't know if there will be another extension, because it all depends on the program's success.

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