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It's official: Homebuyers, unemployed get more help
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Published: November 7, 2009
WASHINGTON - President Barack Obama signed a $24 billion stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
The law provides an additional 14 weeks of benefits to all out-of-work people who have exhausted their benefits or will do so by the end of the year, estimated at nearly 2 million. Those in states where the jobless rate is 8.5 percent or above, such as Florida, get an additional six weeks.
The law also extends the popular $8,000 credit for first-time homebuyers. The credit will be available through June as long as the buyer signs a binding contract by the end of April.
The program is expanded to include a $6,500 credit for existing homeowners who buy a new place after living in their current residence for at least five years.
The Associated Press
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