tax credit: $7000 US Government Foreclosure Tax Credit
- 04/28/08 03:43 PM
The benefits of buying foreclosed homes are about to get even better thanks to the $15 billion Foreclosure Prevention Act of 2008. Homebuyers and investors can soon take advantage of a $7,000 one-year tax credit with the purchase of foreclosure properties if the legislation is passed. That's a huge savings on top of already discounted real estate. In fact, foreclosed homes for sale on Foreclosure.com are often listed between 30 to 50 percent less than market value.