The economy has affected all of us with financial problems and our dreams of owning a home are passing away. Then I heard about this tax credit that may change all that and help the economy too. The senate has a proposal where they are offering first-time home buyers, or those who have not owned in the last three years can receive up to an $8,000 tax credit with a Real Estate Bailout. Homeowners and those who have lived in their current home consecutively for 5 of the past 8 years can receive also up to a $6,500 tax credit. Now this to me sounds like a great way for those wanting a home to have a chance and save money, while giving a jump start to the housing market and the economy at the same time.
So, if you are still renting a house or apartment this is your chance. You can save with this offer, they may not have any more future extensions, so all qualified homebuyers are urged to act and have a written binding contract by April 30, 2010. Income limits are now $125,000 for singles, $225000 for married couples with a $20000 phase-out of the credit for both. This may help you in getting a home of your own and give someone a much needed job at the same time. Checkout the video bellow and see for yourself.
Friday, February 12, 2010
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