$6,500 Tax Credit For Current Homeowners Coming Soon
The House of Representatives today overwhelmingly (403-12)
passed the initiative, which also extends the $8,000 tax credit
for first-time homebuyers until April 30, 2010.
President Barack Obama is expected to officially sign off on
the legislation before the upcoming weekend.
So what’s it all mean?
Essentially, if you have been living in your current home for at
least five consecutive years (and you own it, of course), the
federal government will reward you with up to $6,500 to purchase
a new home. However, you must close on the new house no later
than June 30, 2010, to receive the bonus.
It’s a great incentive for empty nesters, downsizers, upgraders
and basically anyone else who wants to relocate or enjoy a
change of scenery … and get rewarded for it.
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