First Time Home Buyer Tax Credit

The first time home buyer tax credit expires on November 30th.  Industry partners hope that it will be renewed so it continues beyond November 30th, but also are hoping to get a technical fix as well.  The current version is tied to closing on the house before December 1st.  Industry partners hope to amend that requirement to having a house under contract before the deadline.  $8,000 is a lot of money to most people and the current requirement could force home buyers to make unreasonable concessions or make hasty decisions in an effort to close before December 1st of this year.

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