The Video Channel
RE/MAX International
RE/MAX New England
RE/MAX Insight
Categories
Archive
August, 2010July, 2010
June, 2010
May, 2010
April, 2010
March, 2010
February, 2010
December, 2009
November, 2009
October, 2009
September, 2009
May, 2009
April, 2009
March, 2009
All
$8,000 First-Time Homebuyer Tax Credit Extended!
November 06, 2009, by RE/MAX InsightToday, President Obama signed into law legislation extending and expanding the $8,000 first-time homebuyer tax credit. The National Association of Mortgage Brokers (NAMB) strongly advocated for an extension and expansion of the homebuyer tax credit, and considers this a victory for consumers, the housing industry, and NAMB.
Under the legislation, homebuyers will qualify for the tax credit until April 30, 2010 (as long as they have entered a binding contract), and have an additional 2 months (until June 30, 2010) to close the transaction. Borrower income limits have also been increased to $125,000 for individuals and $225,000 for couples (up from $75,000 and $150,000 respectively under the current program). The legislation also includes a tax credit not exceeding $6,500 for move up buyers who have owned their current homes for at least 5 years.
Source: MAG Mortgage Corp., http://www.maghomeloan.com (from NAMB Legislative Alert notification)
For more information, please see http://www.remax.com/LearningCenter/ArticleViewer.aspx?id=27.
