An additional tax credit is available for "move up" buyers. Purchasers that are puchasing that next home are eligible for a $6500.00 tax credit.
One major stipulation to this is that you must have lived in your existing home for at least 5 out of the last 8 years, consecutively. This applies to purchases that occur between November 6, 2009 through April 30, 2010. A valid contract must be signed by April 30, 2010 but the transactions has until June 30, 2010 to close.
Learn more at www.federalhousingtaxcredit.com
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