From CNNmoney.com
There is one big obstacle for many first-time house hunters looking to take advantage of the market: cash for a down payment.
As part of the stimulus package, Congress created a refundable first-time homebuyers tax credit in hopes of helping on-the-fence buyers to take the home-purchase plunge. But buyers couldn't collect the $8,000 credit until tax time, rather than at closing time when it's needed.
1 comment:
But buyers couldn't collect the $8,000 credit until tax time, rather than at closing time when it's needed. - That's one of the main reasons why this tax credit is often being ignored by people. I hope they fix it really soon.
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