$7500 First Time New Jersey Home Buyer Tax Credit
Just a short informational post offering information on the $7500 first time home buyer credit.
$7500 First Time New Jersey Home Buyer Tax Credit
Contact me today at Morris Essex Union & Somerset County homes to get the full report e-mailed to you about the $7500 first time home buyer credit currently being offered by the federal government. Be aware that there is wording in the documentation I have that says you have to pay it back over 15 years, but it is my understanding that the repayment provision is being removed.
James Boyer
Morris County Realtor
Morris County Real Estate Specialist
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
I have also recently posted a link to the Morris County NJ school closings update page.
Tags: $7500 First Time New Jersey Home Buyer Tax Credit, morris county real estate, Morris County REALTOR, morris essex union somerset county homes
February 3rd, 2009 at 9:14 pm
That looks like a winning strategy to me! As long as the banks go along with it. They have got to loosen up a bit and let more people get mortgages!
February 11th, 2009 at 1:32 pm
We’ve got something similar going on in Arizona right now, but I’m not too sure how much it has helped the market. We’re just so flooded with foreclosures right now :/
May 2nd, 2009 at 1:18 pm
Removing the payback requirement and increasing it to $8,000 was a huge improvement to the tax credit. It used to function like an interest-free, 15-year loan. But now it’s a true tax credit. I only hope they extend it beyond 2010. The market could use an extra push for the next couple of years.