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Tax Credit Bill Signed, Sealed and Delivered

On Friday, November 6, 2009, President Obama signed a bill which will extend the $8000 tax credit for *qualifying first-time home buyers through June 2010. First time home buyers will receive the $8,000 Federal tax credit if they:

1. Sign a contract by April 30, 2010
2. Close on the home by June 30, 2010.

The new bill will also provide a $6,500 credit for current homeowners who purchase a new primary residence, and have lived in their current home for at least five of the previous 8 years.

*The bill has a few provisions including:

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint tax filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Click here for the First Time Home Buyer Tax Credit Form.

Begin your search for homes in Charlotte NC. Happy house hunting!

Posted by Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods on 11/07/2009 07:38 AM

Comments (11)

Federal Tax Credit in the Home Buying Channel

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Originally posted at: Charlotte NC Luxury Home Source: Tax Credit Bill Signed, Sealed and Delivered

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11 Comments on Tax Credit Bill Signed, Sealed and Delivered

NOV

Hi Debe, Very nice blog! Love the Uncle Sam picture. Thanks for sharing

www.ToulaRosebrock.com Hi Debe:

We WILL be busy!

I posted the differences of the bill the other day...

Here's my post to see the changes

Hi Debe,

Well presented and the picture of Uncle Sam is priceless! I saw Toula's post and it was also well presented. Thanks for sharing Debe!

Thanks, Ginger! iClipart.com has some awesome clips and photos!

Hi Toula! WooHoo! I knew alot of folks had posted this already but, I wanted it on my blog for the Charlotte consumer. I probably should have just re-blogged yours!

Hi Dorie! Thanks! Toula did a great job of describing the changes, comparing the two bills.

Have a great weekend...

Debe,

Visually captivating post! Great job! (I'm looking for clipart of Uncle Sam with empty pockets hanging out, holding out a tin can...)

Mike in Tucson

I've seen a lot of blog posts on this topic, but none more clear and concise than yours, Debe. Great job explaining all this to consumers.

Mike: Thanks! LOL--perhaps you can use your amazing creativity and make one for us ALL! :-)

Margaret: Well, thank you! I wrote one of these a few months back and it garnered me a ton of views so, it is definitely a hot topic for our consumers!