Tme is running out to claim the $8,000 first-time homebuyers tax credit!
This benefit was passed earlier as part of the economic stimulus package, good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years.
Unlike a similar program from 2008, the credit does not have to be repaid. This credit is in effect only until
DECEMBER 1 2009
Any first time homebuyers who are serious about purchasing property should be out looking right now.
The National Association of Realtors attributes much of current home sales activity to the first-time buyer tax credit. It estimates that 1.8 million buyers will file for the credit, and 350,000 of them wouldn't have been able to buy without it.
Realtors are pushing Congress ito consider greatly expanding $8,000 tax credit for first-time homebuyers -- potentially applying it to all but the wealthiest homebuyers!
Beyond extending the deadline, some lawmakers want to make the credit available to all homebuyers who meet income eligibility requirements. And some want to increase the amount of the credit from $8,000 to $15,000.
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