Homebuyer Tax Credit Extended and Expanded Prospective homebuyers should consider the  tax benefits of purchasing a home right now to take advantage of the recently enacted Housing and Economic Recovery Act of 2008.  The time to purchase has now been extended to April 30, 2010, and your closing must be by June 30, 2010.  The tax credit is $8000. and, in many cases, this could cover your down payment depending on the price of your purchase.   Make sure you speak to a your mortgage banker to get details.  You must qualify to get the credit and the benefit does not apply to all real estate purchases, for instance, vacation properties, second homes, or other real estate investments.  The new law also includes long-time homeowners - if they are selling their principal residence to buy another residence.  There may be some other restrictions, such as income limits, buying a home from a relative, or if you are a nonresident alien. You can also get more information about this credit by speaking to an accountant or by visiting IRS.gov. By Maury Jazzetti . Website: http://www.betterlifestyles.com