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Amanda Wilson, PA, GRI

$8,000 TAX CREDIT–BREAKING NEWS

May 11th 2009
hi

This information has just been released:

BREAKING NEWS

2009 FLORIDA LEGISLATURE ADJOURNS

TALLAHASSEE, Fla. – May 8, 2009 – Having approved a $66.5 billion state budget, the 2009 Florida Legislature adjourned minutes ago.

For the Florida real estate industry, the budget includes several gems. Perhaps the shiniest: $30.1 million for downpayment assistance programs. Beginning July 1, those who qualify for the federal first-time homebuyers tax credit will be able to apply for downpayment assistance in advance of closing, and then repay the amount borrowed when they get their tax refund.

“What an incredible opportunity for thousands of families,” says Cynthia Shelton, 2009 FAR president. “The beauty of this program is that the state will be paid back and, conceivably, more potential homebuyers could take advantage prior to the Dec. 1 expiration of the $8,000 federal first time homebuyer tax credit.”

The program will operate through local county housing administrators, though details are still being worked out. Keep reading FAR’s EarlyBird e-news and checking the home page of floridarealtors.org for updates.

Amanda Wilson, Realtor–EWM Real Estate–Fort Lauderdale, FL

This article was written by:

Amanda Wilson
wilson.a@ewm.com

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