Charlotte Real Estate » Tax revision http://beauferguson.com Beau Ferguson Thu, 17 Jun 2010 14:38:36 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 New revised First Time Home Buyers Tax Credit…The Details! http://beauferguson.com/2009/02/23/new-revised-first-time-home-buyers-tax-creditthe-details/ http://beauferguson.com/2009/02/23/new-revised-first-time-home-buyers-tax-creditthe-details/#comments Mon, 23 Feb 2009 06:20:41 +0000 admin http://beauferguson.com/?p=94 Tired of Paying Rent? It’s official!…The new revision was signed last week. Take note first time homebuyers……..this is YOUR time to jump into the market!

A. Tax Credit is increased to $8,000

B. The income limits remain the same ($75,000 for an individual; $150,000 for a couple).

C. First Time homebuyers and Principal Residences only.

D. Tax credit is available until December 1st (previously it expired on July 1st).

E. Waiver of recapture (i.e. no repayment requirement) for properties purchased in 2009 prior to December 1st

  1. The provision is retroactive to purchases made on or after January 1, 2009.
  2. Recapture section does not apply to properties sold in first three years.

F. Waiver of prohibition on financing by mortgage revenue bonds is included.

There has never been an easier, better time to buy a home. Call me and ask about my rent buster program……I may be able to help you out of your lease.

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