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Federal Housing Tax Credit Explained

October 2, 2008

There’s seems to be a lot of confusion around the “$7500 tax credit” that was passed into law this summer.  I’ve found a website that does the best job, I think, of explaining the program, how one qualifies and what this credit really is.

For aspiring home owners who find their goal stubbornly elusive, newly enacted legislation providing a tax credit of as much as $7,500 for first-time home buyers might just be the opportunity of a lifetime.

But like so many of the good things in life, time is of the essence for buyers who want to take advantage of this outstanding opportunity. Only homes purchased on or after April 9, 2008 and before July 1, 2009 are eligible. Use the links below to learn more about the tax credit.

You can check it out by clicking here.

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