Congresswoman Laura Richardson Urges Families Interested in Purchasing a Home to Act Soon so They Qualify for the Homebuyer Tax Credit before the May 1st Deadline


WASHINGTON, DC – April 7, 2010 – (RealEstateRama) — Congresswoman Laura Richardson is reminding families in the market for a new home to act soon so they can benefit from the First Time Homebuyer (FTHB) tax credit, which has been extended an additional 30 days to a deadline of May 1, 2010.

“Homeownership remains a key piece of the American Dream, though it has unfortunately been kept out of reach for millions of Americans, but because of the First Time Homebuyer tax credit more families than ever in the 37th District have an extra tool to help them make that part of the dream a reality,” Congresswoman Richardson said. “This tax credit has been one of the great successes of the Recovery Act, as is obvious with more than two million families purchasing qualifying homes in 2009, including more than 202,900 Californians. Last year, nearly 1.8 million American families collected $12.6 billion in tax credits because they bought a home and took part in this program. This extension makes it possible for many more to follow their lead and know what the pride of homeownership feels like.”

The new deadline has extended eligibility to people who have a binding contract to purchase a home before May 1, 2010 and will close escrow on the home before July 1, 2010. First time homeowners will be eligible for a tax credit of $8,000, while those who are long-time residents of their current home are eligible for a credit of up to $6,500 if they purchase a new primary residence by the deadline.


Congresswoman Richardson is a Democrat from California’s 37th Congressional District. She is a member of the House Committees on Transportation & Infrastructure and Homeland Security and is chair of the Homeland Security Subcommittee on Emergency Communications, Preparedness, and Response. Her district includes Long Beach, Compton, Carson, Watts, Willowbrook and Signal Hill.

Jeff Billington
Office: (202) 225-7924
Cell: (202) 340-3791

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