Another month passing us by and I hope that we are on the verge of a great Spring. Rates have certainly cooperated as we see the light at the end of the tunnel which we call Winter. I get asked a lot of questions regarding the stimulus package and what it means to everyone along with questions about the past year’s tax credit and the most recent one. There is so much varying and confusing information out there, I went to the source for all of my tax questions. I have attached some information he shared with me and have cut and pasted directly below what Matt relayed to me. I certainly cannot and don’t pretend to ever answer tax questions so I usually will give Matt’s name to clients in order to get specific answers to questions.

Hope this helps. So at this point the $7500 credit (interest free loan) applies for qualified first time home buyers who purchased 4/9/08-12/31/08 and the $8000 credit (not to be paid back) qualified for 1/1-12/31/09 qualified buyer. …also make sure they know they have to stay there at least 36months. As I understand it the 15k credit was the preliminary talk in the house, but did not pass.

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