The House and Senate are still working out all the details, but it looks like the $8000 Tax Credit for first time homebuyers may be extended. Some additional details to the program are:
-$6500 tax credit for primary home buyers that have owned a primary residence in the previous 3 years.
-Increase in the qualifying income limits: Single taxpayers will see the income level raised from $75,000 to $125,000, and joint taxpayers will see an increase from $150,000 to $250,000.
Buyers must have an executed contract by April 30, 2010, and must settle by June 30, 2010.
Stay tuned!
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