After some tough negotiations the House and Senete hammered out a stimulus bill Called the American Recovery and Reinvestment Act of 2009(ARRA) Here are the details:
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The tax credit is available for first-time home buyers only.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10% of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
I guess that's why they say it aint over until the fat lady sings!!! Q & A's to Follow
