Home Buyer Tax Credit Extension & Expansion!
On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers through June 30, 2010.
The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
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