Tuesday, February 17, 2009

First Time Home Buyer Tax Credit Is Better

The American Recovery and Investment Act shows provide important changes for home buyers. The legislation contains two important housing provisions advocated by NAR. The final stimulus bill increases the first-time homebuyer tax credit to $8,000 and eliminates the repayment requirement of earlier legislation. In addition, the credit availability has been extended from July to Dec. 1, 2009.