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So, the U.S. Consumer Product Safety Commission has released a report finding there is a strong correlation between Chinese drywall and excessive corrosion of pipes and wiring in these homes.
Picture of corroded AC coil in Florida home.
Read this story from the AP to get the full scoop!
President Obama is signed the bill passed by Congress extending and expanding the first-time homebuyer tax credit to homes under contract before May 1, 2010.
The credit, equal to 10 percent of a home's purchase price, remains capped at $8,000 for first-time homebuyers, but income limits have been raised.
Congress also approved an expansion of the credit to allow homeowners who have been in a principal residence for at least five of the last eight years to claim a tax credit of up to $6,500 if they sell that home and buy another.
That will provide an incentive not only for entry level, but move-up buyers!
Here's more information and a useful site from the government about the Tax Credit: http://www.irs.gov/newsroom/article/0,,id=204671,00.html
