Since it was announced in late 2008, the $7,500 home-buyer tax credit has received mixed reviews, mostly because as it currently stands, it has to be fully repaid in 15 years. So basically, it’s an interest-free loan (not such a bad thing in itself), rather than a true tax credit.
It may or may not make it through House and Senate negotiations, but if it does, I’m pretty sure this would be an additional shot in the arm of the national real estate market, so stay tuned for updates.
While you're here, don't miss these posts:
- Home Buyer Tax Credit Push Still On Home Builders, Realtors and Bankers continue to urge Congress to extend the home buyer tax credit, and from what I see day-to-day, there’s no shortage...
- Home Buyer Tax Credit Qualifications We get a lot of questions about who does and doesn’t qualify for the Home Buyer Tax Credit, so why not put it out here...
- Housing Stimulus 2.0 – Is It The Solution? A little over a week ago, I mentioned that Congress was hinting at sweetening the home buyer tax credit a bit, and it appears now...









