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Tuesday, November 10, 2009

Homebuyer Tax Credit Changes Part 2

Congress Passes Homebuyer Tax Credit
The $8,000 homebuyer tax credit for first-time buyers has been extended through April 30 of next year and buyers will have an additional two months, until the end of June, to close. First-time buyers who are in process of making a purchase will no longer need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.

And the tax credit has been expanded to existing homeowners who have lived in their current residence for five of the prior eight years. The new legislation allows for a $6,500 maximum credit to existing homeowners.

Get all the details by clicking on the links below.

2009 NAR Issue Brief Homebuyer Tax Credit Changes

2009 NAR FAQ Tax Credit Changes

Here's some more positive news that was in the November 9th issue of Business Week

A Housing Recovery with a Solid Foundation

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