Earlier this year, thousands of people rushed to take advantage of the homebuyer credit, an $8,000 tax credit for first-time homebuyers and $6,500 credit for current homeowners buying a primary residence. But many who qualify might not close before the June 30th deadline (an estimated 55,000 to 75,000 according to the National Association of Realtors), meaning they could miss out on receiving credits worth thousands of dollars. Fortunately, Congress is considering an extension of the homebuyer credit.
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