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As you know, the $8,000/$6,500 Federal Tax Credit has expired. However, you may have heard something about an extension. There is a new "Jobs and Tax" bill up for vote soon, and in it is a provision to extend the federal tax credit to the end of September. However, it is still for buyers that were under contract prior to April 30th, so this is a reprieve only for those stuck in short sale limbo. (For more about short sales, please CLICK HERE.)
The $10,000 credit is going strong for Californians, but may be out of money very quickly. In the meantime, CLICK HERE for the information directly from the source.
With or without a tax credit, low interest rates and property prices are continuing to make it a great time to buy a home!
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