Senate and House pass tax credit extension for 1st Time Homebuyers!!!
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HUGE NEWS!!! The House today passed
the Tax Credit Extension for 1st Time Homebuyers…. adding current
homeowners. This comes on the heals of The Senate passing it last week. The
President is expected to sign by the end of this week.
Here’s what I’m hearing on C-Span as
I write this:
· 1st Time Homebuyers Tax Credit of $8000. extends
to Contracts written by April 30, 2010 and you must close by June 30, 2010
· Current homeowners that have lived in their home for 5+ years
and want to “move on”, will get a $6500 tax credit when they sell their current
home and purchase their next home
· The income thresholds move from, individuals $75K to $150K
and couples from $150K to $225K! That’s Gross Adjusted Income
Great news for homebuyers, Realtors,
Lenders, and the Economy going into the Holidays and Winter!!!
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