Homebuyer Tax Credit to be Extended

category: Laws local and national

Homebuyer Tax Credit to be Extended 0

According to the CNBC report Obama will be signing the bill for the Unemployment and 1st time Home buyer tax credit extension.

Obama To Sign Bill Friday Extending Homebuyers Credit
Congress took further steps to right the staggering economy by expanding a popular tax credit for home-buyers and extending unemployment checks for the growing legions of people running out of benefits with few job prospects.

http://www.cnbc.com/id/33673455/

Summary:

This extends the credit for first time home-buyers through JUNE as long as home-buyers have a signed contract by the end of APRIL. It also offers a $6,500 for those who lived in their current homes for at least 5 years to buy a new primary residence to live in. The income level has been raised to $125,000 for individuals but homes must cost less then $800,000.

Hope this helps.