Last week the President signed into law a measure to extend the $8,000 first time home buyers tax credit through April 30, 2010. It was scheduled to expire at the end of this month.

He also extended the new home buyer tax incentives to people who have owned a home for at least five years. Meaning if you’re an existing homeowner, you qualify for the new tax credit of up to $6,500 if you have lived in your current residence for five years or more out of the previous eight years and purchase a home or sign a sales contract for one from November 7 to the end of April of next year.

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