First-Time Buyers’ Tax Credit Expiring
You’ve got to close on your home before Dec. 1 to qualify for a tax credit that could reduce your federal taxes by as much as $8,000 from your federal taxes.
The first-time homebuyer’s tax credit has been one of the most popular parts of the economic stimulus bill Congress passed last winter.
But if you don’t have a sales contract in hand, and a mortgage application in the works, by mid-October you’ll be racing to meet that deadline.
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