Homebuyers get a bonus in the stimulus bill, an article from CNNMoney.com, reports that first-time buyers could receive a $7,500 tax credit if they purchase soon - no repayment required. The economic stimulus bill that's now before Congress includes a provision for a $7,500 tax credit for first-time home buyers. The $819 billion stimulus plan was passed by the House late Wednesday. The Senate is expected to vote on its version of the bill sometime next week. Technically, the stimulus bill would change of terms of the $7,500 tax credit that was part of the Housing Recovery Act passed last summer, which was basically a no-interest loan that had to be repaid over 15 years. The measure had little impact. Under the stimulus bill now under consideration, the tax credit would be a true credit that doesn't have to be repaid. "Our economists have studied the effect [of the credit] and they say there could be a 10% increase in home sales if it's implemented," said Mary Trupo, a spokesperson for the National Association of Realtors. http://money.cnn.com/2009/01/29/real_estate/tax_credit_near/index.htm?postversion=2009012907
1 Comments on Homebuyers get a bonus in the stimulus bill
FEB
16
2009
Lets give a "tax credit", right now, to those in danger of Froeslocure! Washington still doesn't get it! There are still no plans to help those who are loosing their jobs, or incomes have been cut, and are now in danger of Foreclosure. The manipulation of the Oil futures and Adjustable mortgages is what caused this mess in the first place! We need to remember all of our Politicians who are blatantly ignoring the voice of the American voter, so we can make a change next election!!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
Links;)
Archives
Lets give a "tax credit", right now, to those in danger of Froeslocure! Washington still doesn't get it! There are still no plans to help those who are loosing their jobs, or incomes have been cut, and are now in danger of Foreclosure. The manipulation of the Oil futures and Adjustable mortgages is what caused this mess in the first place! We need to remember all of our Politicians who are blatantly ignoring the voice of the American voter, so we can make a change next election!!