Campaign to Extend the Houseing Tax Credit Underway on Capitol Hill
by Liane Pruchnik ~ June 15th, 2009. Filed under: Buying A Home, Chicago News, Chicago Real Estate, Mortgage/Lending, Selling a Home.
Per Realty Times, a campaign to extend the First Time Home Buyers Tax Credit got underway on Capitol Hill last week.
Bills have been introduced in both the Senate and the House to do the following:
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Open the Credit to ALL Buyers
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Keep it Available through Next Year
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Remove the current Income Limitations
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Allowing Current Home Owners to Participate
Currently the income limitations are $75,000 for a single and $150,000 for a couple and you cannot have owned a home in the last three years to take advantage of the credit.
There is also talk of a possible $3,000 tax credit for those refinancing.
If these bills pass it propbably woulnd’t be until the fall. Keep watch Chicago!