The IRS Wants ON to your IPOD to Illustrate the First Time Homebuyer's Credit!

On a recent visit to the IRS's Website I was surprised to find both English and Spanish Ipod Podcasts to help taxpayers understand the benefit of the current (and SOON to expire if not extended) $8000 First Time Home Buyer's credit. I will paste the link below but be sure to look in the upper right hand corner of the page that loads for the links to the Podcast.

Also note that if you work with certain lenders in Florida there may even be the ability to use the $8000 toward closing costs/downpayment. I'll put a link to the Florida Housing Finance Corporation to see if your favorite lender is participating!

Ahh the IRS on my IPOD - is this a great country or what?

Link to the Podcast and other info from IRS:
http://www.irs.gov/newsroom/article/0,,id=205416,00.html

“The new credit can get money in the pockets of first-time homebuyers quickly,” said IRS Commissioner Doug Shulman. “For people who recently purchased a home or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they’ve already filed their tax return.”

First-time homebuyers represent a significant portion of existing single-family home sales. The expansion in the first-time homebuyer credit will make it easier for first-time homebuyers to enter the housing market this year.

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

Link to Florida Housing Finance Corp's Lender Pages:

http://www.floridahousing.org/Home/HousingPartners/LenderPage/
 

Keep in mind that at least for now - these transactions MUST CLOSE by 12/1/2009 to qualify so given how long it is now taking to get financing in place and to work out issues with lenders on short sales and foreclosures - time is of the essance.

Mike W.