Last week, President Barack Obama signed a law that extends through next spring a temporary tax credit of up to $8,000 for some first-time home buyers, which was due to expire Nov. 30. The law also adds a new tax credit of up to $6,500 for certain repeat home buyers. The package, which the government estimates will cost a total of $11 billion, is intended to help spur housing sales, a critical part of the economy.
Here are some answers to common questions about the new rules.
Thought some of you may find this of interest if you are in the market for a new (or new to you) home. Just click the link for the full article.