Home Buyer Tax Credit Extended and Expanded

                                                                                        

This morning President Obama signed into new legislation the extension and expansion of the  first-time home buyer tax credit. The credit has proven to be one of the stimulus tools that actually works in boosting the economy.

Qualifications are as follows:

First-time homebuyers who purchase after today and before April 30, 2010, are eligible for the extended tax credit.

Current homeowners purchasing a new principal residence after today and before April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Here is the CNN news report: http://money.cnn.com/2009/11/05/news/economy/Extending_unemployment_benefits/index.htm

Here is a link to basic information: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

With interest rates hovering below 5% and the availability of the tax credit, there may have never been a better time to buy a home. Don’t miss the boat…call me if you would like to explore the possibility!

All my best~ Kevin Gorman / Broker / RE/MAX equity group, inc.

www.KevinGormanSells.com  www.ItsaMatterofTrust.com