No but Congressman Ron Paul is pushing to make the tax credit permanent and to make the credit available to people whose homes have been destroyed by a natural disaster, such as a hurricane. The legislation also makes a number of changes to existing tax credits in order to enhance their usefulness to victims of natural disasters.
As you've seen, the government's First Time Homebuyer Tax Credit has expired. But...consider this. If you have a good agent, they could negotiate for you an closing cost credit that will help you purchase a home. In the current lending environment, you can't walk away from a closing with cash in hand, but a closing cost credit can sure help out!
If you'd like to talk more about this, feel free to call me at 847-602-9979.