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Real Estate & Property Law

: Closing Real Estate in Chicago

New Housing Bills

By Peter Olson, Esq.

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Take a look at the Housing Bill passed in the House yesterday and expected to pass Senate today or tomorrow and the President has suggested he'll support...here's a nice overview.

Couple tidbits...new tax deduction for first-time home buyers of $7.500 or 10% of the purchase price, whichever is smaller. Also, a new $500/$1,000 tax deduction if you're a homeowner who takes the standard deduction.

Full post as published by Closing Real Estate in Chicago on July 25, 2008 (boomark / email).

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