Tax credit sparks potential homebuyers’ questions

As soon as Congress passed legislation to expand the $8,000 first-time homebuyer credit, readers started sending in questions about whether they would qualify under the new rules.

The legislation, signed into law last week, gives people more time to purchase a house and allows even current homeowners to receive a credit of up to $6,500 if they buy a new principal residence to replace the old one. It raises the income limits so more buyers qualify.

Full story is available on The Baltimore Sun

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