The deadline to take advantage of the first-time homebuyer tax credit is quickly approaching, but the good news is, there are proposed bills in Congress designed to extend the incentive. The measure would increase the tax credit limit from $8,000 to $15,000 and eliminate income caps.
In addition to the tax credit’s perks, observers in the Philadelphia area say buying a home sooner rather than later is a good idea because housing prices appear to be stabilizing or even rising, as are mortgage rates, which could make homes less affordable in the near future.
http://www.philly.com/philly/business/personal_finance/20090830_Time_Running_Out.html
Tags: consumer, economy, Home, mortgage, saving money, tax credit
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