A Real Tax Credit 'Realief''

Finally, a relief plan that offers some relief-it's a start!

Here are some of the things that this bill would do:

• Provide a direct tax credit to any one who purchases any home!
• Amount of the tax credit would equal 10% of the purchase price or $15,000, whichever is less
• Purchases must be made within one year of this legislation being enacted
• This tax credit would not to be repaid
• Taxpayers would be able to claim the credit on their 2008 income tax return
• This will only apply to the purchase of a principal residence
• The Credit would be recaptured if the home sold within two years of purchase
• This would override the current $7,500 housing tax credit on the date of enactment
  

Now we're talking! This could help many people with closing costs and downpayment!! In addition, it's retroactive within a year.