There is breaking news on the tax credit and the highlight is... there may well be a credit for EXISTING homeowners ($6500). We are tracking the issue as you read this...
Under the compromise reached Wednesday, the existing $8,000 credit would be extended for first-time home buyers who sign a contract for a home by the end of April 2010 and close by the end of June.
It also creates a $6,500 credit for people who buy a home but have owned a home for at least five consecutive years out of the past eight years.
The income limit would be raised to $125,000 a year for individuals and $225,000 for married couples, up from the current income limits of $75,000 and $150,000, respectively.
Check our blog often for the latest information on this and other important Real Estate Matters!
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