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Home Buyer Tax Credit - The Clock is Ticking.

Late last year, Congress modified the $8,000 First-Time Home Buyer Tax Credit program, converting it from a "first-time" buyer program into an "everyone" buyer program.

Under the new terms, first-time buyers are eligible for up to $8,000 in federal tax credits and long-time homeowners can get up to $6,500. A "long-time" homeowner is someone who has owned a primary residence for 5 or more consecutive years dating back to 2002.

For the details check out the post by Dan Green where he's summarized the 2010 Home Buyer Tax Credit on his blog. I think you'll find it a good reference point -- especially for key expiration dates.

  • April 30, 2010 : You must be under contract for your new home
  • June 30, 2010 : You must be closed on your new home

 

Posted: Wednesday, January 06, 2010 8:39 PM by Direct Connect By Owner

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