Wednesday, March 17, 2010

Willy wants 2010 Homebuyer Tax Credits

Willy wishes he were in a position to take advantage of the home buyer tax credit opportunities that are available this year. Yes, these credits are something that sure would make a difference in Willy's financial future if he could use them.

What are these home buyer tax credit opportunities. Well let Willy tell you some of the details.

The federal government had given income tax credit for home buyers last year and this has been extended and expanded to now include homeowners who wish to "move on" after 5 years of living in their current property, as well as first-time homebuyers. The bullet details are as follows:

  • First-time homebuyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit
  • Homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit
  • You should act and have a written, binding contract by April 30, 2010 (close by June 30, 2010)
  • Income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.

Willy also found out that according to The National Association of Realtors News Release, dated 11/5/09, there is an estimated $22 billion which has already been added to the general economy resulting from the bill and approximately 2 million people will utilize the tax credit in 2009.

Willy says that one of those needs to be him. However, Willy does not qualify. However, you may qualify. You might want to watch the video below and hear more about this opportunity.

10-4 Willy

1 comment:

Sandee said...

Sure are a lot of government programs of late. A lot.

Have a terrific day Willy. :)