To find out all th details of the extended and new tax credit, go to http://www.federalhousingtaxcredit.com/faq2.php
It will answer many of the questions you may have, especially on the new $6500 Move-Up/Repeat Home Buyer Tax Credit. It will explain that the homebuyer does not actually have to purchase a property higher in value than their present home. Take a look!
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