Economic Stimulus for First-Time Buyers - 02/13/09 11:22 PM
A recent update from The National Association of REALTORS® has informed us that there are welcomed changes coming to the First Time Buyer Tax Credit Program.
The newly developed $787 Billion Stimulus Package increases the home buyer tax credit from $7500 to $8000...But, that's not all... It also eliminates the repayment requirement for buyers who keep the property longer than 3 years... The 3 year requirement will help protect against the tax credit being used by speculators.
What makes you a first time home buyer & eligible for the tax credit?  First, you must not have owned a home within te past 3 years.  Second, you … (1 comments)