There's still hope for those trying to buy, keep a house Terry Savage: While mortgage foreclosures continue to rise along with the growing unemployment rate, there are a few small rays of hope for homeowners in trouble -- and those looking to buy a home. Last week, Congress approved the extension of the current $8,000 First-Time Homebuyer Tax Credit. Instead of expiring Nov. 30, it will be available for purchase contracts signed by April 30 (with closings by June 30).