Posted March 29, 2010 by Rogers Healy
Today will be the start of a 10-part blog about tips for buying or selling real estate in 2010. I hope I can give some extra pointers if any of you out there were thinking of purchasing or selling real estate in 2010. Hope you all enjoy!
Take Advantage of Home Buyer Tax Credit Program:
The Federal Government has extended the First-time home buyer tax credit for people who sign a contract by April 30th, and must close by June 30th, 2010, These first time home buyers then qualify for an $8,000 tax credit. The maximum income limits have also been increased from $75,000 to $125,000 for individuals and $150,000 to $225,000 for couples. These dates and income brackets also apply for those who have owned a home for at least 5 years and want to change their primary residence, a different tax credit of $6,500 is available to qualify for. For sellers who owe more money on their exhisting mortgage than the property is worth is eligible for a loan-modification program. This will be done through their current mortgage company or loan provider through Making Home Affordable Program.
This is a great time to buy a home and if you or a friend is looking to purchase, taking advantage of this tax credit should be a necessity. For more information or questions about the Home Buyer Tax Credit Program, visit www.FederalHousingTaxCredit.com .