The current tax credit for first time home buyers was set to expire on November 30th, 2009. 
However, the President has signed HR 3548 - a bill that extends that time frame and allows most all purchasers of principal residences to benefit as well.

The Changes:

1. Extend the current first-time homebuyer tax credit of $8,000 through April 30 of 2010. However, if you have a binding contract by that date, you will still qualify if you close within 60 days of deadline.
2. Extend a tax credit of $6,500 to existing homeowners or "move up" buyers in addition to the first-time homebuyers. The home you are leaving must have been used as your principal residence for at least the last 5 years.
3. Increase the income limitations for the maximum benefit to $125,000 for singles and $225,000 for married couples.
4. Purchase limit is $800,000.
5. Military waiver provision cancels recapture provision if the home does not remain your principal residence for at least 36 months.

We are updating our free report "$8000 Tax Credit" and it will be available on our website very soon.  If you have any questions before then, please call us toll free at 1-888-562-6200.