$8000 First-Time Greenville NC Homebuyer Tax Credit Becomes Law
By Liz Freeman
(RE/MAX Preferred Realty)
It was hard to keep track of the numbers floating around Washington last week, but an $8,000 tax credit for first-time Greenville NC homebuyers will be signed into law tomorrow by President Obama. It is not the $15,000 credit that was proposed by the House of Representatives, but it is a definite improvement over the $7,500 low interest loan that was in last fall's legislation. Who qualifies: First-time Greenville NC homebuyers who purchase this calendar year get an $8,000 tax credit which does not have to be repaid like a similar measure last year. This phases out for people making more than $75,000 individually or $150,000 jointly. "First-time homebuyer" is defined as someone who has not owned a home for the past three years. The purchase must be made between Jan. 1, 2009 and Nov. 30,...