WASHINGTON (MarketWatch) -- Senators have struck a deal to extend a popular tax credit for home buyers beyond those buying their first house, Senate Majority Leader Harry Reid's office said Wednesday.
Legislators also have agreed to extend the tax credit through the end of April, according to a Reuters report.
An $8,000 credit for first-time home buyers is set to expire at the end of November. Under a compromise reached by senators, the credit would be expanded to those who have lived in their home for five consecutive years, a Reid spokeswoman said.
The credit for repeat buyers would be $6,500.
The credit reportedly would be available for individuals making up to $125,000 a year and couples earning up to $225,000 per year, up from the current income limits of $75,000 and $150,000, respectively.
Reid wants to attach the tax-credit measure to a bill that would extend unemployment benefits.
By Robert Schroeder, MarketWatch
What did the house down the street sell for? Want to know call me or visit my website.
If you would like to know what your homes current value is, please contact me for a free evaluation.
If you are starting your search now to buy in the future, why not search like a realtor. Sign up for listing book, a free service I provide with no strings attached. Here is the link: http://a107021.listingbook.com or call Me at Cribbin Realty 636-294-6061 or Mike@cribbinrealty.com
No comments:
Post a Comment