Tax Credit Extention
Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit, and offer a reduced credit up to $6,500 to repeat buyers who have owned their current homes for at least five years.
The tax credits will be available to homebuyers who sign sales agreements by the end of April 2010. They would have until the end of June 2010 to close on their new homes.
As soon as we get some more information, we will update you further!
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