For the first time ever the United States government is providing tax credits for Americans who buy their first home. Many of the program’s provisions can be complex and confusing, especially for those unfamiliar with the process of purchasing a home. In order to take advantage of this system it is important to understand the specifics.
In an effort to jump start the collapsing housing market, this year’s stimulus package included an up to $8,000 tax credit for first time home buyers. However, time is running out on this program as only homes purchased before November 30 will be eligible to be included in the tax credit program. That is unless Congress decides to extend the program. Continue reading ‘Demystifying the Housing Tax Credits For Millions of Potential First-Time Home Buyers’ »