Wilmington NC Real Estate - Wrightsville Beach Property $8,000 Tax Credit Extended for new home buyers

GREAT News Wilmington NC home buyers. The government had just extended the $8,000 Tax Credit for new home buyers until April of 2010. Now's the time to sell or buy a new home with drastic savings and extra tax relief. View my site for the newest Property Listing in New Hanover County, Wilmington NC and Coastal NC areas. Beach front Property in Wilmington NC has never been more affordable.

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New Mortgage Rules Proposed for N.C.
The North Carolina Commissioner of Banks (NCCOB) announced today a set of proposed mortgage rules that would protect consumers and reduce foreclosures. A few changes were last made in 2007, but the commissioner of banks now proposes six new rules. "This is the most significant rule making we've done in the mortgage area," said Mark Pearce, NCCOB chief deputy commissioner, in a phone interview Tuesday. The new rules follow in the aftermath of the housing market and mortgage lending crisis.

Wilmington NC $8,000 Home Buyers Tax Credit Extended Through April 30, 2010 - REAL ESTATE AND BEACH FRONT PROPERTY

Earlier today, President Obama signed the Unemployment Insurance Bill, which contains the Homebuyer Tax Credit extension and expansion.

The bill extends the present $8,000 tax credit for first-time home buyers through April 30, 2010. Current homeowners are now eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before that date, they will have until July 1 to close the transaction.

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.

Click Here to view detailed chart explaining the above modifications to the tax credit. You may also view FAQs by clicking here.

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$8,000 Tax Credit Extended Wilmington NC and Wrightsville Beach Real Estate

See my new real estate listings in the Wilmington NC area, as well as beautiful Wrightsville Beach NC - Plus call me about the new extension on the $8,000 New Home Owners Tax Credit. Beach Front Property and land in and around the Wilmington area and New Hanover County area. Free school information and great leisure living in Wilmington NC - Great Retirement Homes with beautiful views.

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