Do you qualify for a homebuyer’s tax credit? It’s not just for first timers anymore…
Posted by Annalisa Burgos | November 6, 2009
It’s official. The popular first time homebuyer tax credit, which many say is responsible for keeping the housing market afloat, has been extended and expanded to include repeat buyers.
Find out if you qualify for the expanded credit.
You now have until April 30, 2010, to secure a contract for a home purchase and until June 30, 2010, to close on it. Buyers had been scrambling to close by the previous deadline of Nov. 30.
President Barack Obama signed into law a $24 billion economic stimulus bill today, which includes these incentives. With numerous reports of people abusing the credit, Congress included a provision that requires buyers to submit documentation with their tax returns to claim the credit. The new program is estimated to cost taxpayers $11 billion.
So go out there. Hit up some open houses this weekend. Get house hunting tips and advice at openhouse.com.
You just may find a house you love and get paid for buying it.
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Home buyer tax credit extended and expanded - Memphis Real Estate Buzz
November 7th, 2009 at 3:01 pm
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