tax credit extension: The Home Buyer Tax Credit Extension has been extended to 2011 for Military
- 07/08/10 06:54 AM
The much-talked about $8,000 tax credit for first-time homebuyers recently expired for most people, But if you're military or a certain government employee, this fantastic opportunity has been extended to 2011! You still can qualify for a tax credit of up to $8,000 even if you're not a first-time homebuyer. Briefly, if you sold a home because of "orders" between 1-1-09 and 4-30-10 and served at least 91 days extended duty, you will qualify for the homebuyer tax credit as long as income, sales price and age (18 years) requirements are met. You need to sign a contract by April 30, … (2 comments)
tax credit extension: President Signs 3-Month Extension of Tax Credit
- 07/06/10 08:25 AM
On Friday, President Obama signed a law giving home buyers three extra months of the wildly popular tax credit that gives first-time home buyers $8,000 and previous owners $6,500. These only apply to primary residences.The catch? This still only applies to purchase contracts that were executed prior to the April 30th deadline. This just gives those individuals extra time to close. It does not enable today's signed contracts to qualify. … (0 comments)
tax credit extension: Closing Deadline Extension For Homebuyer Tax Credit Loans Passed
- 07/02/10 05:25 AM
The Senate by unanimous consent passed a House-passed measure that would extend the deadline for closing loans that qualify for the homebuyer tax credit until September 30, 2010. The extension affects the closing deadline only; contracts still have to have been executed by April 30, 2010 to be eligible. The measure now goes to the President for signature, who is expected to sign it upon receipt. … (0 comments)
tax credit extension: House To Vote To Extend Closing Period For Homebuyer Tax Credit
- 06/29/10 08:10 AM
The House will vote Tuesday on a bill to give first-time homebuyers more time to close in order to claim a federal tax credit that expired at the end of April. The House bill would give homebuyers that had a contract in place before April 30 until Sept. 30 to close on the sale. That would allow them to claim the $8,000 tax credit for first-time homebuyers. The House is slated to vote on the bill under expedited procedures for bills that enjoy broad support. This is great news for first time home buyers and move-up buyers in Idaho! … (0 comments)
tax credit extension: Tax Credits May See Extension
- 06/14/10 06:51 AM
Tax Credits May See Extension The home buyer's tax credit has been wildly popular. It gave both first time and previous home buyers a sizable tax credit provided that they sign a purchase contract no later than the end of April and close no later than the end of June.It was so successful, that pending home sales (contracts signed but not yet closed) rose 22.4% when compared to April 2009. However, with increased underwriting turn times, many people that met the requirement by signing a contract before the end of April will not be able to close in time. Under the … (0 comments)
The much-talked about $8,000 tax credit for first-time homebuyers recently expired for most people, But if you're military or a certain government employee, this fantastic opportunity has been extended to 2011! You still can qualify for a tax credit of up to $8,000 even if you're not a first-time homebuyer.
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