Rush for Home Buyers Credit Intensifies

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The rush is on to qualify for the home buyer’s credit. Under the terms of the ARRA (American Recovery and Reinvestment Act), prospective home buyers must sign a sale and purchase agreement to buy a home by April 30 and close the deal by June 30 to qualify for the home buyers credit. The ARRA rewards those who qualify with up to $8,000 tax credit. If you were buying a principal home for the first time in more than three years you might receive up to $8,000 and if you were moving to a new house, you may qualify for up to $6,500. Up to the end of February, the government had paid out about $12.6 billion in home buyer’s credit.

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The Law Offices of Darrin Mish, P.A. on:

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