Tax Credit Deadline Nears for First-Time Home Buyers

October 21, 2009 6:36:32 PM PDT
An important deadline is fast approaching for people looking to buy their first home. The cut-off day for a federal tax credit of up to $8-thousand dollars is November 30th.                  |   Watch Video Above for Extended Coverage   |

People who have owned a home in the past may also qualify ... as long as they haven't purchased a home in the past three years, and they plan to use the new home as their main residence.

Keep in mind that escrow normally takes between 30-40 days to close. So unless you're paying cash for your home ... realtors warn buyers need to act now if they want to take advantage of the tax credit.

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