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• The $8000 first time homebuyer credit will extend to contracts SIGNED by April 30th and must close by June 30th, 2010. 
• The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years.
• The credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

• The credit would be available only for the purchase of principal residences priced at $800,000 or less. The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

This is GREAT news for anyone looking to buy or upgrade, particularly those interested in short sales or FHA rehab loans that may take an extended time period to close. 

For those who can not qualify for a loan. Our team can still help you get into a home Click here for details. Also in most cases, we can still help you take advantage of this credit. It is your to use it or loose it. This your chance, take advantage of it.

Please contact me with any questions, or view this website foreclosure listing section to browse Washington, DC, Maryland (MD) and Virginia (VA) FULL current inventory! We have realtors on our team we can recommend to you which will facilitate the process.