It's now the law. Congress, and President Obama, have created and signed into law an extension of the first time home buyers tax credit of $8,000. Additionally, the law has provided for existing homeowners to also collect a tax credit of up to $6,500. There are lots of details, income limits, and 'requirements'. Read all about the new laws in CNBC's Investment Guide Special Report.Unfortunately, neither the first time or the existing homeowner tax credits allow for coverage of investment or second home purchases, leaving the Outer Cape real estate market out. Bummer!
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