President Signs the Housing and Economic Recovery Act of 2008 Into Law - 08/02/08 09:30 AM
On July 30th, 2008, the President signed into law The Housing and Economic Recovery Act of 2008.  Part of the Act will provide a $7,500 Tax Credit to First Time Home Buyers.  It is set up to be more of a zero interest loan for the buyers than an outright tax credit as the buyers have to pay it back over a 15 year period.  It will be interesting to see how many first time home buyers enter the housing market to take advantage of this opportunity.
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