As part of a $24 billion economic stimulus bill, the expanded and extended home buyer tax credit is now law.
The features of the bill are as publicized throughout the week;
- deadline extended through April 30
- April 30 deadline requires only that the contract is signed
- Qualified purchases must close by June 2010
- a reduced tax credit of up to $6500 is opened to existing home owners
Other provisions in the new stimulus focus on extending unemployment benefits. Today's increase in unemployment percentages provided the backdrop of today's signing
Here are the President's remarks. In his remarks, President Obama made the point that the credit is "fully paid for." Though he did not elaborate on that. I think he is referring to the deferring a seperate business tax credit.
The president also remembered those suffering in the Ft Hood shooting.
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Richard Smith Conventional, FHA, FHA 203k, HUD $100 down purchases, VA, Jumbo VA, Rural Development, Jumbo, FannieMae Homepath, Home Equity Line of Credit (HELOC). |
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