Sign up for my Newsletters!

eNewsletter Sign Up

Friday, October 30, 2009

First Time Home Buyer Tax Credit Extension

Here is the latest on the First Time Home Buyer Tax Credit being extended. As of last night Senate has passed the bill to be extended until April 30th, 2010. This is a great beginning and is looking good but there are still a few more steps. We should know by next weekend. Here is what they are proposing...

-The Tax credit will be extended an extra year for our wonderful men and women who are serving our country over seas.
-For everyone else it will be extended until April 30th, 2010.
-The salary cap that was $75,000 before the credit started to phase out is being raised to $125,000 for single filers and $250,000 for joint filers.
-If you ALREADY OWN a home and have owned it for at least 5 yrs you can qualify for up to $6500 if you sell your house and buy another.

Here is a little more in depth info... Let me know when you are ready to buy or sell! Happy House Hunting!

http://www.usnews.com/money/blogs/the-home-front/2009/10/29/first-time-home-buyer-tax-credit-gets-obama-nod.html

No comments:

Post a Comment