BREAKING NEWS Home Buyers Tax Credit Bill

A bill just passed the senate H.R.1 that will be a great way for buyers to BUY NOW!

Here are some of the things that this bill will do:

• Provide a direct tax credit to any one who purchases any home!

• Amount of the tax credit would equal 10% of the purchase price or $15,000, whichever is less

• Purchses must be made within one year of this legislation being enacted

• This tax credit would not to be repaid  unlike the current tax credit

• Taxpayers would be able to claim the credit on their 2008 income tax return

• This will only apply to the purchase of a principal residence

• The Credit would be recaptured if the home sold within two years of purchase

• This would sunset the current $7,500 housing tax credit on the date of enactment

Check with your preferred mortgage specialist to find out what information they have on this exciting possibility.

Will Keep you posted