Extended and Expanded home buyer credit
The American Recovery and Reinvestment Act is the wordy name that covers the extended and expanded tax credit for homebuyers. Buyers who have not owned a home in the last 3 years can get a credit of up to $8000 on their taxes while any eligible buyer can receive up to a $6500 credit on homes purchased. The contract must be written by April 30th, 2010 and the deal must close by June 30, 2010. To read the particulars click here.
First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify