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Articles: Key Points on Homebuyer Credits

Under a new law enacted late in 2009, the first-time homebuyer credit has been extended to purchases made before May 1, 2010 (July 1, 2010, if a binding contract is in place on May 1, 2010). The maximum $8,000 credit may be elected on your 2009 tax return for a qualified purchase in 2010. Also, this tax credit can be claimed by more upper-income individuals than before.

New Rule: The credit is also available to individuals other than first-time homebuyers for purchases made after November 6, 2009. If you have owned and used your old home as your principal residence for any five consecutive years during the previous eight years, the maximum credit is $6,500.


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The Fair Housing Act prohibits discrimination in housing because of:

Mission

Enforce the Fair Housing Act and other civil rights laws to ensure the right of equal housing opportunity and free and fair housing choice without discrimination based on race, color, religion, sex, national origin, disability or family composition.

Major Goals

1. Reduce discrimination in housing by doubling the Title VIII case load by the end of 2000 through aggressive enforcement of civil rights and fair housing laws;

2. Promote geographic mobility for low-income and minority households;

3. Integrate fair housing plans into HUD's Consolidated Plans;

4. Further fair housing in other relevant programs of the Federal government; and

5. Promote substantial equivalency among state, local and community organizations involved in providing housing.