I have just been resuscitated after the shock and awwweeee of the news I'm about to tell you. Our government.....the government....yes our government actually did something that will help stimulate the economy and keep this little thing we call a country breathing.
Not only did they extend the tax credit for new homebuyers ($8,000) it now offers a $6500 tax credit for repeat buyers or buyers moving up (how do you move up when prices are down?).
This tax credit will end in June 2010 and all contracts must be in writing by end of April. I wonder if the record number of foreclosures in a quarter in American history had to do with it....HMMMMM.
Anyway that is good news and I have posted an excellent site that gives you full details.
http://www.federalhousingtaxcredit.com/
IRS Form 5405:
http://www.irs.gov/pub/irs-pdf/f5405.pdf
I will be glad to assist you toward your next home purchase. We lend in 47 states and look forward to working with you.
I wish us all well.
Comments(0)