$8,000 and $6,500 real estate
tax credit information
The benefits of buying foreclosed homes have never been better.
Prices, as well as mortgage interest rates, are at record lows and rare government incentives that were available for a limited time sweetened the pot even more.
Even if you weren't ready to jump on the tax credits, don't worry ... Foreclosure.com is here to help you cash in while you can!
It's still a great time to buy a home. And Foreclosure.com can help you make or save thousands on your next home purchase with the most comprehensive and accurate foreclosure listings available anywhere.
Don't pay full price for a home when you don't have to!
These credits have expired. The good news is you can still find the best foreclosure deals in your area!
The Foreclosure Prevention Act of 2008, which President Bush signed in to law on July 30, 2008, was introduced to help boost a struggling nationwide housing economy.
Shortly thereafter, the United States government passed the $787 billion economic stimulus bill, increasing the tax credit for
first-time homeowners from $7,500 to $8,000, extending the program five months and adjusting the repayment obligations.
In fact, there were no repayment obligations — it was free money!
First-time homebuyers were able to take advantage of an $8,000 tax credit with the purchase of properties from Jan. 1, 2009 to Apr. 30, 2010. Single taxpayers with incomes of up to $125,000 and married couples with incomes up to $225,000 were eligible to receive the full tax credit.
In addition, existing homeowners who purchased their properties five years ago or more were eligible to receive a similar credit valued at $6,500 on any new home purchases.
That basically meant that you no longer had to be a new homeowner to benefit from these latest government incentives to buy!
It was even more incentive for buyers to take advantage of already discounted real estate — foreclosed homes for sale on Foreclosure.com are often listed between 30 to 50 percent less than market value.
And we showcase more than 1.8 million distressed real estate listings throughout the nation, meaning that there is something of interest for everyone on Foreclosure.com.
What are you waiting for?
Just because the homebuyer tax credits have expired (for now), doesn't mean that you shouldn't get the jump on other eager buyers and check out the amazing foreclosure deals available in your area right now. CLICK HERE.