Breaking News on Home-Buyer Tax Credit
First Time Buyers
October 28th, 2009
Breaking News: A revised Senate plan on the first-time homebuyer tax credit would extend the $8,000 credit to include home purchases under contract by April 30, 2010 and give buyers an additional 60 days to close escrow. The proposal would also raise the qualifiying income limits to $125,000 ($225,000 for couples). In another big change, the plan would include a credit of up to $6,500 for existing homeowners who have lived in their homes for at least 5 years.
This is still in negotiation and final details could very well change before this is passed. With the current first-time homebuyer tax credit set to expire Nov. 30th there has been a big push to get this done.
Source: Bloomberg.com
Sphere: Related Content
