Time Running Out For First-time Buyers Tax Credit Program
By Kathy O'Neal, A great experience & a happy end result.
(The Kathy O'Neal Team - RE/MAX Executives)
If taking advanage of the First-time Tax Credit Program is part of your plan, please know that the clock is ticking down. If you plan on taking advantage of its generous tax credit, remember that the program expires November 30, 2009. Also, be aware that the time you'll need to close on a transaction can be up to 60 days. From about now, you would have a little less than 6 weeks get the contract signed. The First-Time Homebuyer Tax Credit program was part of the 2009 economic stimulus plan. It provides up to an $8,000 tax credit if you quality. A big chuck of money, by any standard. Who qualifies? Here are the basics: Buyer may not have owned a "main home" in the past 36 months. Can't buy the home from a parent, spouse, or child. Your adjusted gross income for the household must be...
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