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2009 October » fliprent
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  • Home Buyers Tax Credit To Include Existing Home Owners

29th October 2009

Home Buyers Tax Credit To Include Existing Home Owners

The battle to extend the First Time Home Buyers tax credit has taken an even better twist.  Senate Democrats are not only in favor of extending the original credit but are also seeking to include existing home owners as well.  This is very good news for those that have not already taken advantage of the credit but even better for those that did not qualify under the previous plan.  The new proposal is to include a $6500 tax credit to existing home owners if they have lived in their current home for at least 5 years.  The buyers must make under $125,000/year single and $250,000/year married filing jointly.  According to a Senator Harry Reid aide Regan Lachapelle, the new proposal still faces some resistance from Republicans.  More information to come.

posted in Financing, Home Buying, economy | 2 Comments

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