I was really busy at work today so unfortunately I wasn’t able to finish my next post in the Researching Stocks Series. I should be able to finish it up tomorrow, so be on the lookout for it. Just a quick update on yesterday’s post. It looks like the plans have changed for the tax credit extension.
Here’s what the new details should look like: Senate Close to Deal Replacing Homebuyer Tax Credit
“The deal would reduce the size of the tax credit to 10 percent of the sale’s price, capped at $7,290, the people said. The credit would be available on home purchases that are under contract by April 30, and borrowers would have 60 days more to close the sale.”
“The income eligibility for first-time homebuyers would remain the same at $75,000 for individuals and $150,000 for couples. The income criteria for step-up buyers would be $125,000 for individuals and $250,000 for couples.”
“The credit would be limited to homes costing $800,000 or less. There is currently no price cap on home purchases.”
