Home Buying Tax Credit: Don't Pass It Up!
I feel sorry for all those who have to sell their home because they can not pay the mortgage any more. On the other hand, it opens up possibilities for both them and others to buy a cheap house.
They may even qualify for the home buying tax credit, but then they will have to hurry because it only runs until April 30, 2010. There may be no extension, so take advantage of it if you are or intend to buy a house.
Make sure to have a written, binding contract by April 30 and close by June 30, 2010 and you will qualify if you are:
- A first-time home buyer and have not owned a house in the last three years. You could be eligible receiving up to $8,000 tax credit, when buying your first home.
- Currently a homeowner and have lived in your present house consecutively for 5 out of the past 8 years. When buying another home you could qualify for up to $6,500 tax credit.
Changes have been made to income limits as well and are now $125,000 for singles and $225,000 for married couples with a $20,000 phase-out of the credit for both.
Don't pass up this opportunity; find out today how much of a help the housing stimulus could be to you!
They may even qualify for the home buying tax credit, but then they will have to hurry because it only runs until April 30, 2010. There may be no extension, so take advantage of it if you are or intend to buy a house.
Make sure to have a written, binding contract by April 30 and close by June 30, 2010 and you will qualify if you are:
- A first-time home buyer and have not owned a house in the last three years. You could be eligible receiving up to $8,000 tax credit, when buying your first home.
- Currently a homeowner and have lived in your present house consecutively for 5 out of the past 8 years. When buying another home you could qualify for up to $6,500 tax credit.
Changes have been made to income limits as well and are now $125,000 for singles and $225,000 for married couples with a $20,000 phase-out of the credit for both.
Don't pass up this opportunity; find out today how much of a help the housing stimulus could be to you!
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