[Nome-announce] Housing relief information

[Melissa Ford]

This week, President Bush signed the "Housing and Economic Recovery Act of
2008" into law. This $300 Billion rescue plan is aimed at helping struggling
homeowners avoid foreclosure, as well as boost confidence in the housing
market. Although the bill is several hundred pages long and contains a
number of far-reaching provisions, the tax credit for first time homebuyers
is definitely something I want to let everyone know about.

First-time homebuyers who purchase their primary residence on or after April
9, 2008 and before July 1, 2009 are eligible for up to $7,500 in tax credit,
provided they haven't owned a home in the last three years and fit certain
income parameters. The credit is generous, but it is actually an interest
free loan, paid back over 15 years at $500 per year when taxes are filed.

Special note: Some types of seller-paid down payment assistance programs are
being eliminated as of October 1st as well - so purchasing a home before
then may gain you a double benefit of tax credits AND seller-paid down
payment assistance while it is still available.

Melissa Ford - REALTORR

phone: (907) 443-7368

fax: (907) 443-7463

 

Stop throwing your money away on rent!

NEWEST LISTING AT: www.nomesweethomes.com

 

 

 

 

 

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