$15,000 and $8,000 real estate
tax credit information

The benefits of buying a foreclosure home have never been better. Prices are at record lows and rare government incentives are available for a limited time.

But it won't last forever! Now is the time to achieve the American Dream at half the cost.

Foreclosure.com can help you make or save thousands on your next home purchase with the most comprehensive and accurate foreclosure listings available anywhere — don't pay full price for a home when you don't
have to!

This is also your opportunity to take advantage of huge tax savings, which are set to expire just months from now. Cash in while you can!

$15,000 Homebuyer Tax Credit

In an effort to spark the national housing market, elected officials in Washington, D.C., proposed a $15,000 tax credit to encourage people to start buying homes.

It was a nice incentive, which would have provided all homebuyers (not just first timers) with up to $15,000 (or 10 percent of the value of new or existing residences) to put toward their real estate purchases.

Unfortunately, the money-saving measure was cut from President Barack Obama's $838 billion economic stimulus package. The House of Representatives compromised on a $787 billion bill, leaving the $15,000 tax credit on the cutting room floor.

The good news is that the existing $7,500 tax credit was increased to $8,000. In addition, under the terms of the new language in the revised bill, the $8,000 does not need to be repaid (previously it had to be paid back at zero interest within 15 years) if you continue to own the home for at least three years.

That's cold hard cash in your pocket!

$7,500 US Government Tax Credit Increased to $8,000

The benefits of buying foreclosed homes just got better thanks to the Foreclosure Prevention Act of 2008, which President Bush signed in to law on July 30, 2008, to help boost a struggling nationwide housing economy.

The United States government recently sweetened the pot with the passage of the $787 billion economic stimulus bill, increasing the tax credit from $7,500 to $8,000, extending the program five months and adjusting the repayment obligations.

In fact, there are no repayment obligations — it's free money!

First-time homebuyers can now take advantage of an $8,000 tax credit with the purchase of properties from April 9, 2008, to Dec. 1, 2009. Single taxpayers with incomes of up to $75,000 and married couples with incomes up to $150,000 are eligible to receive the full tax credit.

This is even more incentive for buyers to take advantage of already discounted real estate — foreclosed homes for sale on Foreclosure.com are often listed between 30 to 50 percent less than market value.

And we showcase more than 1.8 million distressed real estate listings throughout the nation, meaning that there is something of interest for everyone on Foreclosure.com.

What are you waiting for?

Get the jump on other eager buyers and check out the amazing foreclosure deals available in your area right now. CLICK HERE.

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