The American Credit Union Mortgage Association has begun to lobby Congress and the Administration in support of extending the $8,000 new home buyer tax credit.

The credit, which had been passed earlier this year as part of the attempt to stimulate the economy, allows anyone who purchases a new home through November to claim a tax credit of $8,000.

"The Internal Revenue Service recently reported that well over 1 million taxpayers have benefited from the tax credit, many of these credit union members. We are experiencing this positive impact at a local level on a daily basis," wrote ACUMA President Robert Dorsa in an Oct. 22 letter to NCUA Board Chairman Debbie Matz and leading federal legislators.