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Homebuyers Scramble to Beat Deadline for $8,000 Tax Credit

Samantha Kielar is scrambling to find a house in Colorado before the doors slam shut on an $8,000 first-time buyer’s tax credit she needs for her downpayment or home repairs.   AP     The clock is ticking fast. Qualified borrowers need to have house offers accepted by the end of September to assure lenders enough time to beat the Nov. 30 federal deadline to close deals, industry executives... [Read more]

Congress Tries Again for $15,000 Home Buyer Tax Credit

Give him credit for trying again. Sen. Johnny Isakson has reintroduced a bill that would give home buyers a tax credit worth 10% of the purchase price of a home up to $15,000. The Georgia Republican unsuccessfully tried to get the credit inserted into the $787 billion stimulus package that went into law in February. Congress instead opted for extending and boosting an existing credit, worth up to... [Read more]

adjustable-rate-mortgage « WordPress.com Tag Feed 2009-06-14 14:45:14

Thinking about buying your first home? Good news — now may be a great time to make your move!   For a limited time, qualified first-time homebuyers may receive a tax credit up to $8,000 as part of the American Recovery and Reinvestment Act of 2009.   If you plan to live in the home as your primary residence and have not owned a home during the past three years, you may qualify for the tax credit.... [Read more]