Blogging Real Estate in Nova

So, what’s in the new Home Buyer and Jobless Bill for you! Here
are some quick facts everyone should know about the bill;

• The total
  cost of the bill is estimated to be $24 billion. The Bill will cover both unemployment benefits and housing. 
• Unemployment
  benefits will be extended for an additional 14 extra weeks. If your state
  has unemployment above 8.5% you will get 6 more additional weeks for a
  total of 99 weeks of unemployment. The average unemployment check is $300
  per week.
• The
  housing buyer credit will be extended until June 30^th. This
  means (very important) that you must be under contract by April 30^th  and close by June 30^th . Very important!!!!
• There
  is a new $6,500 buyer’s credit for repeat buyers. You Must have lived/owned
  your principle home for the last 5 years to qualify for this credit.

Here is a quick break down of the differences between the old and new bills:

Need more info on the tax credit? 

• Boston Globe
• Bloomberg 
• National Association of Realtors FAQ Most commonly asked questions!!!
• Download Extended tax credit Cheat sheet

Take care, 

Chuck  

Serving all of your Ashburn, Leesburg, Mclean and Loudoun County area Real Estate needs!

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