News You Can Use

Must be repaid over 15 years.  According to the IRS News Release of September 16, 2008.

First-time home buyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.

The Credit applies to home purchases after April 8, 2008 and before July 1, 2009.  It reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar. It is fully refudable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.

This credit operates much like an interest-free loan, because it must be repaid over a 15 year period. The maximum available credit is $7,500.

There are certain limitations, like price of the home, taxpayer's income etc.

For a full copy of the release you may e mail me at

lauraapont@aol.com or phone me at 813-451-0239

This IS the right time to BUY!!!

Laura Sanchez, P.A.

Realtor Associate