When the bill concerning extension of first time homeowner credit to April 2010 is signed, I heard that it increased the MAGI limits for singles and married couples (to $225K). Will this increased MAGI benefit also be provided to homes that closed prior to Dec 1st, 2009? (for example we closed in Aug 2009). Or will the MAGI limit stay at $150K if we closed escrow prior to Dec 1st.

Take a look at the legislation here http://thomas.loc.gov/cgi-bin/query/F?c111:4:./temp/~c111p4JebY:e16075:

Unfortunately no : ( I sold my house in July so I was hoping for the $6500 credit myself when I heard this passed, but alas, no deal. Straight from the legislation:

(j) Effective Dates-

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  (1) IN GENERAL- The amendments made by subsections (b), (c), (d), and (g) shall apply to residences purchased after the date of the enactment of this Act.

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  (2) EXTENSIONS- The amendments made by subsections (a), (f), and (i) shall apply to residences purchased after November 30, 2009.