Home Buying in Shirley>Question Details

Mike, Home Buyer in Shirley, NY

Will the increased income limits help buyers that bought when the first time limits were lower?

Asked by Mike, Shirley, NY Fri Nov 6, 2009

I bought in June 2009 and was hoping to get some of the first time homebuyer money. The problem is that being here on Long Island, NY it's pretty much impossible to buy/afford a place on a single 75,000 salary. I'm hoping that these new changes will allow me to be able to get some of the credit now.

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I am sorry, I thought you said you made $75,000. No, you would not qualify as you already closed on your home. The new program that has been approved is for contracts dated 12/1/09 to 4/30/10.
1 vote Thank Flag Link Fri Nov 6, 2009
I've already bought (June 2009) my first place. At the time the income limits for the 8,000 credit was 75,000 (full)-95,000 (0) income wise. My question was that since the income limits have been increased are the new limits retro-active, aka will I be able to take the credit (since I make over 95,000 as a single homebuyer)
0 votes Thank Flag Link Fri Nov 6, 2009
SIngle with $75,000 income should qualify you for the tax credit. Talk to your accountant.
0 votes Thank Flag Link Fri Nov 6, 2009
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