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New York State's Mortgage Credit Certificate (MCC) Program is
an alternative way for SONYMA to assist first-time homebuyers. With an
MCC, 20% of your annual mortgage interest can be converted into a tax
credit and deducted dollar for dollar from your Federal income tax
liability. The remaining 80% of mortgage interest continues ...
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President Bush singed into law a Homebuyer Tax Credit — a $7500 tax credit that would be would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan). The tax credit is design to "push" fence sitters into the market ...
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