Tax Credit - Home buyers primary residence Credit

Home Tax Credit Amendment
There is a bright light of hope for the housing industry in the form of an amendment, (the Lieberman/Isakson) which was included in the senate version of the Economic Stimulus Bill. It was passed with a unanimous voice vote and if it survives the final passage of a stimulus
bill will allow for a period of one year, a Tax Credit to all home buyers of primary residences, at the rate of 10% of the sales price up
to a limit of $15,000.And that's not all, the Senate is expected to debate Amendment 353, proposed by Senator John Ensign (R-NV) it would provide 30 year fixed financing at a rate of about 4% for anyone purchasing a primary residence. If both of these Amendments
pass, they could be the keys to a dramatic and immediate turn around in real estate. Follow up, learn what you can about these Amendments and if you feel they would have a positive effect, then contact our senators and representatives and let them know. These
are critical times and the outcome of this legislation will have a powerful impact. Lets keep the light burning. Go to the official Senate and House web sites to locate contact information.

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