Are you a first-time home-buyers or have not owned a home in the last three years? This is a good news to you then because the First-time Home Buyers Tax Credit was just extended to April 30, 2010 from November 30, 2009 by the Congress and signed into law by President Obama. This means that all contracts must be written and signed or on before April 30 and all property must be closed on or before June 30 of 2010. The benefits of this law includes raising the income caps to $125,000 for Individual and $225,000 to Family. First-time homebuyers can receive up to $8,000 tax credit and those who have lived in a current home consecutive for 5 years of the past 8 years can receive up to $6,500 tax credit.
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