In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000* for first-time home buyers.But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.
$8,000Home Buyer Tax Credit at a Glance
·The tax credit is for first-time home buyers: defined as a purchaser not having owned a home within the previous … (0 comments)
first time home buyers tax credit: H. R. 3221 - FIRST TIME HOME BUYER'S TAX CREDIT
- 08/13/08 07:17 AM
Now is the time to buy for First-Time Buyers. Opportunity only knocks once; and, if you have been waiting, now is the time to act because time will run out! For first time home buyers who thought owning a home was only a dream, the recently enacted legislation, H.R. 3221, also known as the Housing and Economic Recovery Act of 2008, will provide a tax credit of 10% of the home cost, but not to exceed $7,500 which could now make your dream a reality. H.R. 3221 also includes reform of Fannie Mae and Freddie Mac, FHA modernization, with permanent increases in conforming and FHA loan limitsIf you … (0 comments)
What Does the New Federal Housing Tax Credit Mean for You?
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