In short, The Home Ownership Move the Economy Act of 2009, also known as HOME, would expand the first-time home purchaser credit.
This Act, if passed, would amend the Internal Revenue Code by:
-Extending the first-time home buyer tax credit to all individuals. (The buyer would have to be purchasing a principal residence.)
-The Act would extend the credit through 2010.
-Finally, it would repeal the limits on such credits based on modified adjusted gross income.
** I am also hearing that the tax credit may be increased.**
As I receive more information, I will pass it on to you.