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Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit
Here are some of the most frequently asked questions on the changes to the Homebuyer Tax CreditQuestion: Existing homeowner credit: Must the new house cost more than the old house?Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement,
Housing Tax Credit Working, So Keep Momentum Going, NAR Urges Congress
Washington, October 20, 2009 Consumers are just starting to see the first glimmers of a bright future for the housing market and the overall economy. It’s up to Congress to make that glimmer a reality by building on the momentum created by the $8,000 home buyer tax credit.One of the key ways to do that is for Congress to extend the home buyer tax credit, said National Association of Realtors® First Vice President Ron Phipps today to the Senate Banking, Housing and Urban Affairs Committee during a hearing on “The State of the Nation’s Housing Market.”“The data on the present home buyer tax credit show that the credit has had its intended impact
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