September 25, 2009

It is apparent that the state of the housing industry is improving and in my opinion these gains are to a large degree the result of the $8,000 first time homebuyer tax credit. However, the legislation and thus, the tax credit expire December 1, 2009, less than eight weeks from now!

Many Latinos are first time homebuyers and stand to gain from extension of this tax credit. Therefore, it is imperative that we contact Congress urging them to extend and expand the credit through 2010. Please send a letter to your Congressperson and your two Senators urging them to take action Now.

Thank you,

LULAC

Below is a sample letter:

Dear( insert name of the decision maker)

It is without doubt that the $8,000, first time homebuyer tax credit has been a success. Homebuyer interest and housing sales increased soon after the passage of the tax credit legislation. Today’s lower prices and interest rates appeal to consumers, but it has been the tax credit that has attracted people to open houses and to homeownership.

While the market has improved, it has not yet fully corrected itself. To ensure that this progress continues it is imperative that the tax credit be extended and expanded. This action not only ensures that consumer demand continues to increase spurring an additional 383,000 home sales, but it will create approximately 350,000 new jobs over the next year.

Congress must act now to extend and expand the credit through 2010. We respectfully urge you to support and vote for legislation extending and expanding tax credit for first time homebuyers.

Thank you for your attentiveness and consideration.

Sincerely,

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