First-Time Homebuyers are Eligible for $7,500 Tax Credit
There is a lot of hype circulating about the new law passed a few months ago through the Housing and Economic Recovery Act of 2008. The law passed is a tax credit that will be available to First-time Homebuyers, up to $7,500. The idea is that it will help people afford their first home and in turn stimulate the economy, hopefully building confidence once again in the American Dream. While initially the tax credit sounds like a great deal there are a few restrictions and limitations in the fine
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