Hall, center, with George Whalen, left, and Michael

MONROE– Congressman John Hall came to the Monroe home of the Whalens Monday to detail the recently approved extension of the Homebuyer’s Tax Credit and how it would expand the economy in Orange County and help new home buyers.

The tax credit was approved in September to April 30, 2010.

In addition, for homeowner’s who have lived in their homes for five years within the last eight years, there would be a $6,500 tax credit for those who are looking to sell them.

The legislation also helps military families who are struggling to make their mortgage payments by making the entire payment tax exempt.

“This is one more way we can help them and take the stress off our over-stressed military families,” he said.

One family that will benefit from the extension will be the Whalen family, who is looking to retire and whose son, Michael, is looking to purchase his own home. 

“I lived on my own for four years in college and coming back home was one of those decisions that you gotta bite the bullet and live with mom again.” 

George and Tanina Whalen are looking to retire in Georgia but did not think that they would be able to sell their home before the initial tax credit deadline, but with the $6,500 extension they are now breathing easier.  “It creates a sense of urgency because it puts a timeframe up by which people have to take action,” Whalen said.