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An opportunity like this does not come around too often. With the recent signing of a major housing stimulus bill, it's now a great time to close on your first home.
On February 17, 2009, the American Recovery and Reinvestment Act of 20091 was passed, which includes a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.
The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules.
To obtain a better understanding of this opportunity, the CENTURY 21 team has compiled the following information:
More information Below: Before you decide to use the first-time homebuyer tax credit, please consult with a tax professional.
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