11/5/2009 Update: WASHINGTON (MarketWatch) — The House of Representatives on Thursday approved an extension of jobless benefits and a tax credit for home buyers, sending the measure to President Barack Obama for signature. See http://bit.ly/2jTwPB
Thanks to Cameron from Security Home Mortgage, in Orem for the following information about extending the Home Buyer Tax Credit for BOTH first-time home buyers, and homeowners looking for their next home:
“The House of Representatives has approved legislation that would extend and expand the credit. The House vote comes after the Senate voted yes on Monday night, and while there is more work to be done, word has it that an agreed upon bill should reach President Obama for his signature by the end of this week.
Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension would cover homes under contract by April 30th and closed by June 30th, 2010. And, as predicted, the tax credit will be expanded to non-first time homeowners as well. There are a few tweaks for non-first time homebuyers—the credit is reduced from $8,000 to $6,500, and they must have owned (and I believe lived in) their home for at least five of the past eight years.
Remember, this is NOT final and even if it is approved, it could contain further changes.”
For further questions, please contact Cameron Adams at 801-420-7234 or via email at cameron@securityhomemortgage.com
UPDATE:
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Dean Crandall is a licensed REALTOR with Keller Williams Westfield Real Estate based in beautiful Utah County. He has six successful years of helping clients and friends find and sell homes, land and investment properties.
If you are looking for free advice or have questions, please contact Dean directly:
Dean Crandall
801-836-3112
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Copyright® 2009, DeanoDean, Inc. “Possible Extension of the Homebuyer’s Tax Credit”
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