We're all anxiously awaiting the the final Stimulus Package to be passed by both houses and signed by the President on February 18th. There will be at least one provision for homebuyers in this bill.
On Feb 10th the Associated Press reports:
"HOMEBUYER CREDIT:
_House — $2.6 billion to repeal a requirement that a $7,500 first-time home buyer tax credit be paid back over time for homes purchased from Jan. 1 to July 1, unless the home is sold within three years. The credit is phased out for couples making more than $150,000.
_Senate — Doubles the credit to $15,000 for homes purchased for a year after the bill takes effect, increasing the cost to $35.5 billion."
We hope to see more help for our real estate market in second half of the "TARP" bill now relabeled "FST". More to come on FST.
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