First Time Home Buyers Tax Credit Extension

Just a heads up. Currently, the First Time Home Buyers Tax credit has been voted 85-2 in favor of extending and expanding the First Time Home Buyers Tax Credit until April 2010 according to Diana Olick of CBS. The next step is for it to go to the Senate Republicans to finalize the vote by tomorrow evening. The tax credit is to expand to provide a tax credit of $6500.00 for those who have owned a home in the last three years and are moving up to a new home. The tax credit will also expand the income requirements for individuals from $75,000 to $125,000 and for couples up to $225,000. Real estate purchased up to $800,000 will qualify for the tax credit as the proposed legislation is currently offered.

So, what does this mean for those of you offering seller financing through contract for deed or land contracts?? Stay tuned…I will shooting a video to address any changes that could possibly impact you.

P.S. If your not targeting sellers offering their property through lease options and converting them to consider contract for deed then you are missing a lot of money and huge opportunity to control property with very little if none out of your pocket or an opportunity to flip these land contracts and collect more money. If you want to get started today using this no money down strategy check out the post below for the First Time Home Buyers Tax Credit.

Just a heads up. Currently, the First Time Home Buyers Tax credit has been voted 85-2 in favor of extending and expanding the First Time Home Buyers Tax Credit until April 2010 according to Diana Olick of CBS. The next step is for it to go to the Senate Republicans to finalize the vote by tomorrow evening. The tax credit is to expand to provide a tax credit of $6500.00 for those who have owned a home in the last three years and are moving up to a new home. The tax credit will also expand the income requirements for individuals from $75,000 to $125,000 and for couples up to $225,000. Real estate purchased up to $800,000 will qualify for the tax credit as the proposed legislation is currently offered.

So, what does this mean for those of you offering seller financing through contract for deed or land contracts?? Stay tuned…I will shooting a video to address any changes that could possibly impact you.

P.S. If your not targeting sellers offering their property through lease options and converting them to consider contract for deed then you are missing a lot of money and huge opportunity to control property with very little if none out of your pocket or an opportunity to flip these land contracts and collect more money. If you want to get started today using this no money down strategy check out the post below for the First Time Home Buyers Tax Credit.