First-Time Home-buyer Tax Credit Extended


If  you are buying a home and are currently in escrow, but thought you missed the deadline for the $8,000 tax credit, you are in luck. At the beginning of the month, Congress voted to extend the tax credit to September 30 for buyers who had signed a purchase contract by April 30th. The push for this extension was lobbied by the National Association of Realtors. The extension is beneficial to those buyers who are taking advantage of short sale transactions which take much longer than the average 30 days to close.

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