Congress has passed new legislation which gives first-time homebuyers up to an $8000 tax credit. Here are some highlights:
- Home must be purchased between 1/1/09 and 12/1/09
- First-time homebuyers are defined as those who have not owned a principal residence in the last three years
- The tax credit DOES NOT have to be repaid.
If you’ve been waiting on the sidelines, we can not stress enough the value of this tax credit and that you should act now! For more information, visit this web site.