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Are You A First-Time Homebuyer?
Are you a first-time homebuyer? If so, you are running out of time to take advantage of the $8,000 tax credit being offer! In order to take advantage of the tax credit, you need to buy a house before November 30, 2009. If you do not close on a house by that date, the federal government will not give you your tax credit. This is your chance to get a little of the recovery money that so many of the large corporations are taking advantage of.It is a great time to buy so what are you waiting for? Here is a little information on the tax credit:
A first-time homebuyer is someone who has not owned a home in the last three years. You cannot purchase the home from a spouse, direct ancestor, child, or grandchild; however, you do qualify if you purchase a home from siblings, nephews, nieces, or others. Single taxpayers with incomes up to $75,000 and married people with incomes up to $150,000 qualify for the full tax credit. If you are married, both spouses must be first-time homebuyers. If more than one unmarried individual is buying the property, the credit can be split among all the purchasers ... more
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