UPDATE (2/24/09): Revisions have been made to this bill with the American Recovery and Reinvestment Act of 2009. After reading about this bill, read about the changes made here.
In this second post of our H.R. 3221, the “Housing and Economic Recovery Act of 2008″ Series, we talk about a provision included that allows most first time home-buyers to receive at $7500.00 tax rebate. Make sure you read all the way through as there are some caveats and a TWIST. Here are the details you need to know:
- The $7500 Tax Credit is available to firs-time home buyers that purchase a principal residence sometime after April 9th of 2008 and sometime before July 1st of 2009.
- The Credit is a “refundable” credit. So, if you have a tax liability of $2000 next (more…)




