Great news for first time homebuyers and season home buyers as well. Congress passed a new legislation that extends the FIRST-TIME HOME BUYER TAX CREDIT OF UP TO $8000 to first-time homebuyers until April 2010. The new bill also expands the credit for home owners buying a new or existing home between November 7TH 2009 and April 2010 to $6500.
Who Qualifies for the Extended Credit?
First-time home buyers who purchase homes between November 7, 2009 and April, 2010.
Current home owners purchasing a home between November 7, 2009 and April, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
Read The Details about the new ligislation on the First-Time Home Tax Credit in the following links.
http://http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
http://http://www.irs.gov/newsroom/article/0,,id=204671,00.html
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