Go With Your Best Option - Sleepless in Sturbridge

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Uncle Sam Wants Your Money - By Wendy Burdett Prospect Mortgage

UNCLE SAME WANTS YOUR MONEY

Americans  who took advantage of the First Time Homebuyer Tax Credit in 2008 of $7500 will have to depart with some money.
You now have to  increase your tax liability when filing your tax returns by $500.00. This being the first of the next 15 years of your life,
providing you still own the home in 15 years.
For those who sell their home prior to the 15 year mark, the total balance will be due
the year the house is sold.

The best part of the tax credit is, it is like an interest free loan.

For those who procrastinated and did not use the Tax Credit until 2009 and 2010
you received the new and improved version.
An $8000 Tax Credit that does not have to be repaid as long as you have the property
as your primary residence for 36 months. 
This was probably the one and only time procrastination paid off for some. 

This blog brought to you by:

WENDY BURDETT
PROSPECT MORTGAGE
WENDY.BURDETT@PROSPECTMTG.COM
WWW.PROSPECTMORTGAGE.COM
CELL (508) 380 -7697

Link to original post:  http://activerain.com/blogsview/2141389/uncle-sam-wants-your-money

 

 
 
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1 comment • Kathleen Cooper, RE/MAX,Broker, REALTOR® • February 17 2011 12:22PM

Thank You, Thank You, Thank You! Tax Credit Extended & Expanded

 THANK YOU, THANK YOU, THANK YOU!
TAX CREDIT EXTENDED & EXPANDED

Exciting news for first time home buyers as well as potential move up buyers today!  The first time home buyer's tax credit has been extended through April 30, 2010 and expanded to include home purchasers who are selling their current home of at least 5 years of ownership. 

Rules for the extended credit:

  • First-time home buyers must purchase homes between November 7, 2009 and April 30, 2010.
  • Current home owners purchasing a home between November 7, 2009 and April 30, 2010, must have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

The maximum amount available to first time home buyers is $8,000 and the maximum available to move up  buyers is $6,500.  This money will not have to be repaid as long as the home is owned for 3 years or more. 

For more great information about this tax credit news, visit Realtor.org. 

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


8 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • November 06 2009 07:20PM