| If you are a first time buyer you should be | | | | do a quick set of examples to make sure that |
| salivating at the perks available to you, Barack | | | | you understand how the credit works, you decide |
| Obama recently passed a bill that was created to | | | | to purchase a property with a price of $65,000.00 |
| assist individuals looking to purchase there first | | | | your credit will be $6500.00, on the opposite |
| home. The reinvestment act of 2009 guarantees | | | | spectrum if you purchase a home with a selling |
| that if you meet certain criteria you will rewarded | | | | price of $150,000, your credit will be the |
| with up to $8000.0 in refundable tax credits. Think | | | | maximum of $8000.00. |
| about it like you are getting paid to purchase your | | | | This credit/grant is fully forgiven if you hold the |
| first home, I can't remember a time in the past | | | | property as your primary residence for 3 years, |
| where there were so many perks available for | | | | every year 33 1/3% of the credit or grant is |
| first time buyers. | | | | forgiven, if you sell before the 3 year window is |
| Let me delve a little into what qualifies you as a | | | | completed the amount of the grant given will be |
| first time buyer, well the first criteria would be | | | | recouped in the form of a tax penalty or lien on |
| that you of course have not purchased a home | | | | the property. |
| of any kind before. This fact is very clear, but the | | | | Attention all first time buyers this program will |
| hazy part is what if I have owned a property | | | | only last for 365 days, so if you thought you may |
| before, the criteria for this is that you could have | | | | be interested in buying your home, now is the |
| purchased a home in the past but as long as you | | | | right time, it will all end on December 31, 2009. |
| have not had any type of home ownership in the | | | | Stop procrastinating; stop making excuses, no |
| previous 3 years you can still qualify for the first | | | | money, no problem, down payment assistance |
| time buyer refundable tax credit. | | | | programs available for some, marginal credit, not |
| How the credit works is really simple you will | | | | a problem we have a program designed to assist |
| receive a 10% credit up to $8000.00 maximum, | | | | you in obtaining you your home. |
| the credit is based on the actual sales price. I will | | | | |