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It is now law: President Obama signs 1st time home buyer tax credit, extends to more than first timers

President Obama signed H.R. 3548 this morning, enacting into law an extension, and adjustment, of the $8,000 tax credit for first-time buyers. This extension, among other things, includes:

  • Adds money for some move-up buyers
  • Creates one deadline for signing a contract and a later deadline for closing
  • Changes income requirements
  • Effective immediately: The maximum home value purchased cannot exceed $800,000. Prior to the law being signed, first-time homebuyers had no limitation on a home’s cost.
  • READ MORE HERE
Published Friday, November 06, 2009 5:49 PM by Gabe Fitzhugh

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