May 15 2009
10 THINGS YOU NEED TO KNOW ABOUT THE FIRST TIME HOME BUYERS CREDIT
The 780 billion-dollar economic stimulus plan – the American Recovery and Reinvestment Act of 2009 – includes an $8,000 first-time home buyer tax credit. Though we were all hoping for the originally proposed $15,000 tax credit, the 8K is still reason to celebrate.
Here are the top 10 things you need to know if you hope to take advantage of the tax credit:
1. The $8,000 tax credit is for first-time home buyers only. (“First time” means you cannot have owned a home for three years before your current purchase)
2. It can be applied to 2009 home purchases closing before
3. The tax credit does NOT have to be repaid (unlike the Continue Reading »
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