FIRST - TIME HOMEBUYER TAX CREDIT

REVISED CREDIT- EFFECTIVE FOR PURCHASE BETWEEN JANUARY 1, 2009 AND DECEMBER 1, 2009.

Maximum credit amount increased to $8000.

Purchase who use revenue bond finacing can use credit.

No payment for purchase on or after January 1, 2009 and before December 1, 2009.

For homes sold in 2009 - If sale is within 3 years of purchas, entire amount of credit is recaptired on sale.