Thursday, October 29, 2009

Move-up Buyers to Get Homebuyer Tax Credit



**PASSED!**


Caution! The credit is in the bill, but the final bill is yet to be voted into law. At the moment, the current wording includes:

"A deal struck among key senators last night to extend the homebuyer tax credit will broaden the benefit to include existing homeowners who are buying a new home as well as first-time homebuyers.Tax credit for move-up buyers will be less than for first-time buyers, but still significant. They will qualify for a credit of up to $6,500 and must have owned their current homes at least five years."


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