Ann Arbor, MI February 17, 2009 – “There are four primary sections of the economic stimulus plan that will benefit home owners and buyers,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.
Benefit #1 – Expansion of Home Improvement Tax Credit
“The tax credit for making
Beginning October 1st, 2008 all owner occupants (excluding HUD approved non-profit organizations, Good Neighbor Next Door participants, and units of local government) will receive $2,500 at closing for properties with a purchase price of $25,000 or more.
The $2,500 sales incentive can be used for the following items:
