Then it was changed last year into a true tax credit where first-time home buyers could get up to an $8,500 tax credit. Sweet! Some states and counties even worked it out so you could use this as part of the down payment. For the purposes of the tax credit, "first-time" meant anyone who had not owned a home in the past 3 years. This credit was due to expire at the end of November 2009.
Now, not only has this credit been extended into 2010, but it now embraces many people who currently own a home and want to buy a different one. There are limitations of course, but it does make the money available to a much wider spectrum of Americans.
To read more about this you can visit the Internal Revenue Site by: CLICKING HERE
Or the National Association of REALTORs Site by: CLICKING HERE
If I can assist you further, call me at: 813-783-4444 or e-mail me at: firstname.lastname@example.org
John Elwell - REALTOR
Bill Nye Realty, Inc.
Licensed in Florida