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President signs homebuyer tax credit into law
From AP, the details of the homebuyer tax credit...
(The $8,000 credit), which was to expire at the end of this month, will be available through next June as long as the buyer signs a binding contract by the end of April.
The program is expanded to include a $6,500 credit for existing homeowners who buy a new place after living in their current residence for at least five years....
Prolonging the life of the homebuyer credit has been a priority of the real estate industry, which says it has been instrumental in beginning to turn around a market that was a major cause of the economic downturn. About 1.4 million first-time homebuyers have qualified for the credit through August, and the National Association of Realtors estimates that 350,000 of them would not have purchased their homes without the credit.
Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...
