Will the tax credit be extended beyond December 1, 2009? - 08/26/09 04:49 PM
H.R. 2801: Home Ownership Moves the Economy (HOME) Act of 2009  is a bill set to go before congress to extend the Home Buyer Tax Credit to U.S. citizens.  The current home buyer tax credit allows first time home buyers (buyers who have not owned a home in the last three years) to receive a credit of 10% of the purchase price up to $8000.  There are some restrictions.
Income must be under $75,000 or $150,000 filing jointly.  There is a reduced credit for individuals earning up to $95,000 or $170,000 jointly.  The home must be a first time purchase. The … (1 comments)