One Step Closer!

Posted on November 5, 2009

The $8000 Tax Credit that was previously due to expire at the end of this month moved one step closer to getting extended today.  All that is left is  President Obama's signature.  The President should wrap this up shortly and it will be official.  We touched on this in yesterday's post as well so I won't go into a bunch of detail. Besidesmost  people who are interested in this extension/expansion already are aware of its current status.  Once this is passed into law we will post a final update on the site for informational puposes to all that want it.  

A few highlights are:

• $8000 Tax Credit is extended until April 30, 2010
• Current Homeowners are now eligible for a $6500 credit (if owned home for 5 consecutive yrs out of last 8)
• If you are in a contract by 4/30/2010 you will have until June 30, 2010 to close.
• Income limits expanded to $125,000 single and $225,000 married

This is exciting news for our industry as we all know that this has helped spark activity that otherwise may not be there. 

More to come soon.

Brought to you by:

Flat Branch Home Loans, Inc.