What you must know now about the Federal Housing Bill. First-time Homebuyer Tax Credit presents great opportunity.
A tax credit of as much as $7,500 for first-time home buyers is among the features of the NAR-supported Housing and Economic Recovery Act of 2008, which was signed into legislation by President Bush today. Time is of the essence. Only homes purchased on or after April 9, 2008 and before July 1, 2009 are eligible. Learn more... There are specific qualifications for buyers. Those qualifications and more details, including information about repayment of the credit over a 15-year term, are outlined in a chart posted on realtor.org today. Other provisions of the Bill are also detailed in a Summary of Key Provisions posted today by the National Association of REALTORS®. As an additional resource, the National Association of Home Builders has launched a website with more details about this First-time Home Buyer Tax Credit. Watch for more information about this important legislation from your REALTOR® Associations. Questions? Contact either of the KCRAR Government Affairs Directors: > for Missouri, Derek Ramsay - derekr@kcrar.com > for Kansas, Cindy Green - cindyg@kcrar.com |
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