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Homebuyer Tax Credit Plan

By
Real Estate Agent with Century 21 Prime Realty
Homebuyer Tax Credit Plan Agreed to by U.S. Senate Democrats If it passes, the proposal would: 1) Let homeowners qualify for a $6,500 credit if they have lived in their residence for five years - i.e. they don't have to be first-time home buyers anymore. 2) The income limits will go up (if it passes) to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law. 3) The plan would extend the credit, due to expire Nov. 30, to home purchases under contract by April 30, 2010, with borrowers allowed another 60 days to close the sale Here’s the link to the story: http://www.bloomberg.com/apps/news?pid=email_en&sid=a6e4fQQHzg6U

Comments (1)

Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Brandy...This plan should certainly keep the ball rolling in places where the recovery has begun, and give it a nudge in places that haven't gotten off the ground yet.

Nov 05, 2009 08:27 AM