A major provision of the The American Recovery and Reinvestment Act of 2009 that was signed into law last Tuesday was the First Time Home Buyer Tax Credit.
The National Association of Realtors has succeeded in removing the repayment requirement for 2009. The credit has been extended to on or before November 30, 2009 and can be claimed by those who closed on homes on or after January 1, 2009. It is still repayable for 2008 purchases. The credit has been expanded to $8,000. §But, it is still only for first time homebuyers.
Please send us an e-mail. We will be happy to send you a power point presentation that highlights the differerent features of the tax credit. The power point was presented by Ken Trepeta, Director of Real Estate Services for the National Association of Realtors.
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