tax credit: Hey, heres $7500 bucks. Pay me back interest free over 15 years (unless you can't sell your house for a profit) - 11/13/08 05:50 AM

Hey, here is $7500 bucks. Pay me back interest free  over 15 years (unless you can't sell your house for a profit)
This is deal being offered to first time home buyers with the tax credit that was passed earlier this year. However, no one seems to understand it or appreciate it. 
I just had a VA buyer that was purchasing a home with no money down and receiving a seller concession for the full amount of the closing costs. Now, after he closes, he can expect an additional $7500 in his tax return check. Not a bad deal.
 
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Bill Turano (Mortgage Master)

Bill Turano

Brick, NJ

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