“That’s right! The rumors are TRUE…President Obama signed an extension & expansion of the first-time homebuyers tax credit last Friday.”
Here are the HIGHLIGHTS:
$8K tax credit will now be in effect through the end of June 2010.
Homebuyers MUST sign a contract before April 30 and close by June 30.
The income limits were raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.
“The bill also made more homeowners eligible to claim the credit on their taxes.”
First-time buyers — those who have not owned a home in the past three years — still qualify for an $8,000 rebate.
NEW: people who want to trade up can now also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.
For all the detail of the $8K Tax Credit read this–>$8K Tax Credit
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