The details are out on the Stimulus Package the tax credit is awesome!

Posted by Terry & Janis Spear on Tuesday, February 17th, 2009 at 9:33pm.

Have you seen the provision in the Stimulus Package that was signed into law today? In the bill is an $8,000 tax credit for home buyers. This is an awesome time to buy a home with low mortgage rates a fairly soft market for home prices this is an unprecedented opportunity. Like all other opportunites there are time limits. The purchase could be made retroactive to Jan 1,2009 through Dec 1,2009. The new bill makes this a credit which is in essence the same as paying $8,000 in taxes( not a deduction) this is something you want to review with your CPA as there are income limits to quailfy for the full deduction.

The new bill allows you to use the credit and not have to repay the money as was the case prior to this new package as long as you do not sell for 3 years. What a great way to take advantage of the present marke conditions, low rates, soft home prices and a tax credit to boot. There has not been a better time to consider a home purchase.

If you want more details please visit my website.

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