Tax Credit for First Time Homebuyers
News, Real Estate
October 22nd, 2008
In an earlier post I talked about the $7500 tax credit for first time homebuyers, for the purchase of a home (see related post below). Here is a flyer that gives the specifics of the program:
There is a great deal of change happening in the lending industry right now. We are hearing some indications that this tax credit might be extended to more than just first timers, possibly to all buyers. Presently, buyers taking advantage of this are required to pay it back over time. There is a possibility that that may change. What I heard was that if you keep the home for at least 5 years, you may not have to pay back the credit.
I’ll pass information along as it gets firmed up in the coming weeks.
Related Post: http://reddingrealestateguru.com/2008/09/24/opportunities-for-first-time-homebuyers/
