New Tax Credit for Longtime Homeowners

Posted by Sandra Israelson on Sunday, November 29th, 2009 at 10:22am.

Congress has extended the tax credit for home buyers to current homeowners who have owned and lived in their residences for at least 5 years. This credit is for $6,500 rather than the $8,000 that first time home buyers qualify for. All the other provisions of the first time homebuyer tax credit apply.

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