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Extended $8000 Federal Tax Credit for First Time Home Buyers - The United States Congress passed a new economic stimulus bill that was signed into law by President Obama on Friday, November 6, 2009.  The law includes an extension of the $8000 Tax Credit for First Time Home Buyers (10% up to $8000) that was set to expire on December 1st, 2009.  Contracts must be binding by April 30, 2010 and closed by June 30, 2010.  
Expanded $6500 Federal Tax Credit for Existing Homeowners - This new tax credit is intended for trade-in and move-up buyers.  The $6,500 tax credit applies for buyers who have lived in their current residence for 5 of the past 8 years.  Buyers must live in the new residence for 3 years to avoid repayment requirements.  This tax credit becomes effective December 1st, 2009.  Contracts must be binding by April 30, 2010 and closed by June 30, 2010.  There is no requirement to sell your current property.  The new property must become your primary residence.
$14,000 Free Loan Program For Buying Foreclosures* - The Georgia Department of Community Affairs also provides a $14,000 Free Loan Program with the Georgia Dream NSP program.  This Neighborhood Stabilization Purchase program provides buyers of designated foreclosures a $14,000 secondary loan that is forgivable over time. * This program is currently oversubscribed with a waiting list.
Federal Energy Tax Credits - The Federal government also provides a significant list of Energy Tax Credits for the purchase of energy efficient products including windows & doors, HVAC, water heaters, hybrids cars and more.  Sellers or buyers may now invest in items that provide both tax relief and long-term monthly savings as energy prices are expected to rise.