Buyer Tax Credits for 2009...Great News!

There's a catch to the first-time-home-buyer tax credit already on the books: Those who receive the credit must pay it back over the years to come. But one provision in the stimulus bill approved by the House of Representatives this week would remove that repayment requirement.

The credit gives buyers who haven't owned a home in the past three years up to a $7,500 credit for buying a home before July. Critics of the current tax credit said the repayment feature made the incentive less appealing, and didn't serve its purpose of luring more buyers back into the market.

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Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
www.ThomasonTeam.com
408.850.3085