1st time home buyers 10,000 tax credit foreclosed returning buyers 5,000 credit short sales granted 12 months to close

To spur additional economic recovery the return of First Time Home Buyers Tax Credit
shall return for first Time Home buyers in 2012 On a tied Level.
1) First Time Home Buyers shall receive a credit of $10,000 defined as a new home owner purchasing a home as their
primary residence and not purchased a home within the last 3 years.
2) A home buyer entering the market again after losing their home do to foreclosure shall revive a credit of $7,500
3) A home owner refinancing shall receive a tax credit of $5,000
This program will remain in effect for six months expiring after placed in effect with the exception of the home being purchased is a short sale. If the home is a short sale the buyer has an additional 6 months to close.