The following article was written by Stephanie Hanna, Platinum 1st Mortgage
It doesn’t really matter what side of the political fence you sit on, there’s no denying that the new stimulus bill offers good news for potential home buyers. The way I see it, there are two specific portions of this bill that impact buyers most directly:
- Increased tax credit benefit for first-time homebuyers. Let me first define a first-time homebuyer because the government’s definition is probably different than what you’re thinking. If you have not owned a principal residence in the past three years, you are considered a first-time homebuyer.
If you fit that bill and you purchase a home between January 1, 2009 (yes, it is retroactive) and December 31, 2009,…