The federal government is making it easy to buy homes in Laurel Maryland.
Ok, where are we with the money being given to first time home buyers? At first the government was giving a $7500 tax credit to first time home buyers that could be paid back over 15 years......interest FREE.
Then the stimulus bill was passed and now that interest free loan of $7500 is now an $8000 tax credit gift from the government. You do not have to pay back the $8000.
Ok, so now we have more money along with low prices and low interest rates. Most of you first time home buyers should have jumped in the pool by now.
But wait there's more.
Now, the government wants to give buyers of foreclosures in Prince Georges County Maryland more money. Laurel Maryland is located mostly in Prince Georges County.
Effective March first of this year, the federal government will give buyers of foreclosures in Prince Georges County Maryland up to seven percent of the sales price to the buyer to use as a down payment. Thats right, up to seven percent.
If the lender who owns the foreclosure gives you the closing help, you are getting in this house for virtually nothing. Oh, don't forget about the $8000 gift at the end of the year from the IRS.
Time to buy people.
More details coming.
For more information on Maryland real estate, visit Maryland foreclosures.
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