In November 2009, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 which included an extension of the original $8,000 first-time home buyer tax credit and also created a new, $6,500 credit for current homeowners buying a new home. The credit is available to qualifying buyers who sign a binding sales contract on or before April 30, 2010, and close by June 30, 2010.
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