Here's what's in the economic stimulus bill before Congress that could help you if you are thinking of buying a home in the next year.
The latest version includes a $15,000 tax credit or 10% of the home's purchase price (whichever is lower). The credit applies to all buyers - not just first-time homebuyers. There are no income limits.
This measure is different from the tax credit passed last summer and does NOT not have to be repaid. It can be taken spread out over two tax years. Buyers must live in the home for two years or forfeit the credit. It equates to LOWER HOUSE prices
Comments(0)