You Can Still Qualify for a Home Buyer Credit!
The Homeownership and Business Assistance Act of 2009, was signed into law on Nov. 6, 2009. The new law will extend the First Time Home Buyer Credit and expand the program to include current homeowners who have lived in their current homes at least five consecutive years of the previous eight. There are special rules for military members. The new program dates are December 1, 2009 through April 30, 2010. Credits to home buyers who have entered a binding-contract prior to the deadline will be extended for up to 60-days. The qualifying income limits have been changed to $125,000 for single taxpayers and $225,000 for joint filers. The credit for the first time buyer is still 8K. Current homeowners will receive a $6,500 credit. The purchase price of the new home is capped at $800,000. Check with your tax preparer or http://www.irs.gov for details.--GreatSpace Man