First-Time home buyer Tax Credit of up to $8,000
The Summer Sampler starts pretty soon in Farmin Park and we know many of you there for the best taste of local restaurants, lively cook offs, beverages, and live music.
This event reminds us once again how much we share as a community and how important it is that come together during a time when most families are struggling with financial issues.
There is some good news coming our way in the next few days and we will have to wait and see if it becomes a reality.
The first-time home buyer tax credit of up to $8,000 has helped to move inventory and now legislators and business leaders want to build on that success by expanding the program.
Several bills have been introduced in the House and Senate proposing some significant changes.
Four of the big ones are
1) Establishing a new cap of $15,000
2) Extending the tax break into mid 2010 (it’s due to expire December 1, 2009)
3) Allow all home buyers to use this tool and not just first-time buyers and
4) Offering a separate tax credit to $3,000 for borrowers who refinance their mortgage loan.
Check back or email me to find out the latest
Tags: $8000 Tax Credit
