RISMEDIA, November 6, 2009-After the Senate gave final approval last night without a dissenting vote, the House of Representatives voted overwhelmingly this afternoon to pass legislation containing an extension and expansion of the homebuyer tax credit, completing Congressional action and sending the tax credit to President Obama for his signature, possibly as early as tomorrow.
The $8,000 homebuyer tax credit for first-time buyers, due to expire in 25 days, will be extended through April 30 of next year and buyers will have an additional two months, until the end of June, to close. First-time buyers who are in the process of making a purchase will no longer need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline. The new legislation increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the level in existing law.
For the first time, the new legislation makes buyers who already own a home eligible for a credit. A $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The legislation limits eligibility for the existing homeowner credit to homes worth $800,000 or less.
Certified Short Sale Professional
Dawn Barrier Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
Las Vegas, Nv
(702) 812-4550
Other Blogs:
Summerlin Short Sale *Bank of America Short Sale Closed* Las Vegas Condo Short Sale
Las Vegas Foreclosure filings, Notice of Defaults, are the numbers really leading to foreclosures?
Las Vegas Pumpkins...What do I do with them? Donate them in North Las Vegas, Nv
No comments:
Post a Comment