want $8k? Maybe you're qualified for Real Estate Tax Benefit?

If you’re living I the United States of America, you have probably heard of or are familiar with President Obama’s Stimulus Program. It is his way of somehow saving the economy, preventing it from hitting rock bottom.

Part of this Stimulus Program is the $8000 Home Buyer Tax Credit. It should have ended last November 2009 but is now extended until April 2010 and expanded too; now, not only first-time home buyers can take advantage of the tax credit, some homeowners may also benefit from it if they have the qualifications.

Hey, $8000 can go a long way! Imagine what you can get for that amount? Yeah, you'll spend a lot more than that to take this Real Estate Tax Benefit, but if you're planning to buy a home anyways and you know you're qualified, that's just an incentive, a little extra, a bonus! Why not go for it, right?

Here’s a more detailed list of information from http://www.coldwellbanker.com :

• First-time homebuyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit
• Homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit
• There may be no future extensions, so all qualified homebuyers are urged to act and have a written, binding contract by April 30, 2010 (close by June 30, 2010)
• Income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.

You can also watch this video; but make sure to talk to your financial advisor to help you make the best decisions. Good luck!