$8,000 Real Estate Tax Credit:New Deal ?

With Time running out on the existing $8000 first time home buyers tax credit, there seems to be an extension in the works. The new deal would be extended to contracts that are finalized by April 30th 2010 ,  and close by June 30th 2010.This will help buyers ,sellers and Realtors until next spring. The tax credit will make available $6,500 to some existing homeowners who lived in a home for five  years out eight years. The income limits will be raised, so tax credits for both programs will be available individuals who earn up to $125,000, or married couples up to $250,000 currently the limits are $75,000 for single and $150,000 for married, these would be changed.Today the news is it looks like it will be passed. Stay tuned .

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