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Posted on February 16 2009 | The Seattle Condo Blog |
The final version of the $787 billion stimulus bill revises the existing $7,500 first-time homebuyers tax credit. The major changes include an increase of the credit to $8,000, elimination of the payback option, recaptures the full amount if home/condo is sold within three years and extends the credit to properties purchased by November 30, 2009.
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[...] Congress passed the American Recovery and Reinvestment Act of 2009 with a provision revising the first-time homebuyers tax credit, increasing it by $500 to $8,000 and eliminating the repayment requirement. The jury is still out [...]
