Archive for September, 2009

Act fast! Homebuyer tax credit to end soon!

September 4, 2009

Passed earlier this year as a part of the economic stimulus package, the credit is good for up to $8,000 or 10% of the purchase price and applies to people who have not owned a home in the previous three years.  (There are some income restrictions)  The best part:  Unlike a similar program from 2008, the credit does not have to be repaid!  The BAD part:  It ends on December 1!  Because it can, in some in cases take up to 90 days or more to close on ahouse after a contract is sigbned, buyers have very little time left to act.  It still remains to be seen as to whether or not this tax credit will be extended at all for next 2010.