THERE’S STILL TIME!!
It may seem like time to hit the panic button for the Tax Credit — but the April 30th timeline is deceiving. You do have to be in a BINDING CONTRACT by April 30th — but you dont actually have to close on the transaction until July 1st, 2010. There is the $8000 tax credit for the first time homebuyer. This does not have to be paid back — but the home must be occupied by the buyer for a minimum of 3 years. The move-up tax credit does not just apply to buying a more expensive home — it just includes present homeowners in the fun! This tax credit is for $6500 and again the home buyer must occupy the new home for a minimum of 3 years. If it is not possible to occupy the home this long you will have to pay back some of the tax credit on a pro-rated basis — depending on how long you did live there. The income limits for this credit are fairly liberal — I won’t go into all the numbers in this article — but email me at sueboughton@remax.net or call me at 678-549-4949 and I will forward information to you that explains everything in very understandable language. It would be a pity to not take advantage of discount home prices — the lowest interest rates in history — and this tax credit combined — so call now and get set up on an email program where you can view all the homes that match whatever criteria you enter into the search.
$6500, $8000, affordable housing, buyers, cherokee county, Cobb County, foreclosures, homes, homes for sale, interest rates, move up buyer tax credit, short sales, tax credits
