Hi Everyone,

In case you didn’t hear the tax credit has been extended with modifications. Courtesy of Lori Sorrels of Bank of America here are the latest guidelines. Call us with your questions.
Tax Credit Bill: For first time homebuyers or those who have not owned within 3 years, the tax credit remains at $8000, with income restrictions maxing out at $125,000 single and $225,000 joint. Current homeowners, those defined as having owned a home for five of the previous 8 years can now also take advantage of a credit, with the slightly lesser amount of $6500, with the same income restrictions. To qualify purchase agreements must be signed by April 30, 2010, and closed by June 30, 2010. For those in the Armed Forces, persons stationed outside the United States on official duty for 90 days during the period Jan 1, 2009 and before May 1, 2010 will have eligibility extended for binding contracts signed before May 1, 2010 and closed before July 1, 2011. Will let you know when this is signed and law.


Thanks,
Brian
719-593-2963