Any Buyers Here Getting $6500 Tax Credit ?
This slipped under my radar until I read an article in this morning's Chicago Tribune. I knew about the $8000 credit to those bying their FIRST home, but this became law Nov. 6.
If your household income is under $125K (single filer) or $225K (filing jointly), you can claim the credit as soon as you close on something costing $800K or less. That could be anytime from Nov. 6 up to June 30, 2010.
You must have lived in your current home five of the last eight years. You don't have to 'buy up', just buy another principal residence. You don't even have to sell your present home, but you do have to move into the new one.
You can buy new, existing, manufactured -- even a boat if you're going to LIVE on in.
The article, which originated in the Washington Post, provides a link to www.federalhousingtaxcredit.com