WASHINGTON (AP) -- Buying a home is about to get cheaper for a whole new crop of homebuyers - $6,500 cheaper. First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the Senate voted Wednesday to extend and expand the tax credit to include many buyers who already own homes. The House is scheduled to vote … (1 comments)
tax credit: Declining home prices turning Renters into Buyers!
- 04/20/09 11:17 AM
With declining markets in most areas along with landlords on fixed mortgages, renting is becoming more expensive than owning your own home. Some municipalities realize the benefit of ownership and are chipping in contributions making it more affordable to own. As an example, the City of Newark, Delaware is currently running a program to benefit anyone buying a home in their municipality. They are offering a low interest loan that can be used toward the down payment or closing costs. You can find this program here. Your Federal Government is even giving first time home buyers an $8,000 tax credit, that is not a … (3 comments)
Nov 5, 11:10 AM EST
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