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fthb credit: Will tax credit for ‘move-up' homebuyers spur you to act? - 11/05/09 06:09 AM
7:00 am November 5, 2009, by Craig Bland
Late Wednesday, the Senate voted 98-0 to extend the first-time homebuyer tax credit of $8,000 to April 30.
The Senate also took action to spur sales to "move-up" buyers, AJC reporter Bob Keefe writes.
Legislation, which still must be passed by the House, would provide a $6,500 tax credit for homebuyers, as long as they had been in their previous home for at least five years.
The tax credits would be limited to homebuyers who make $125,000 or less as an individual or $225,000 or less as a couple. The cost of the home … (8 comments)

fthb credit: $8000 tax credit. Can your parents co-sign and you still qualify? - 09/02/09 12:20 PM
One of the questions I am often asked as a mortgage advisor is "if my parents co-sign will I still be eligible for the $8000 First Time Homebuyers Tax credit?"
Well I have an answer - direct from the IRS's mouth!
Finally an answer to the question we get so often - Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?  
Hi, 
I researched your question concerning the First Time Homebuyers Tax Credit. I've included the … (6 comments)

 

Craig Bland

Lawrenceville, GA

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