First-time AND second-time home buyer credit?
Senators have cut a deal to extend and expand the popular first-time home buyer tax credit, though -- as The Wall Street Journal notes -- don't count on it just yet.
The tentative agreement worked out by Senate negotiators would allow buyers to sign contracts through April 30 as long as they close by June 30. First-timers would continue to be eligible for up to $8,000, while some repeat buyers could get up to $6,500.
Which repeat buyers? "The reduced credit would be available to all home buyers who have been in their current residence for a consecutive five-year period in the past eight years," the WSJ reports.
This hasn't yet passed the Senate, which is trying to decide which other economic measures to tack on to a bill, and it faces skepticism in the House. (As you'll recall, a number of people have allegedly claimed the credit despite not qualifying as first-time buyers, not being old enough to buy a house, not actually buying a house, etc.)
What do you think? Weigh in: