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tax credit extension and expansion: How the New Homebuyer's Tax Credit Works
- 11/09/09 04:53 AM
Source: UPI
The extension and expansion of the homebuyers tax credit that passed Congress November 5 allows more first-time buyers to qualify and creates an entirely new credit for existing homeowners who buy a new home.
The effective date was the date the President signed the bill, Friday November 6. It is not retroactive. However, first-time buyers who have been rushing the meet the November 30 deadline for the existing program need not worry. They can qualify under the new one. Existing homeowners who are also in the process of buying a home should consider delaying closing until December 1 or … (0 comments)
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