Some real estate people and home buyers will surely be a little disappointed today when President Barack Obama signs the proposed economic stimulus bill. Included in the new package is a change to the current $7,500 first time home buyer credit. As reported here in previous posts, the current tax credit is $7,500 with an interest free repayment over 15 years.
The Senate was not only aiming to up the credit to $15,000, but also to eliminate the repayment, and make the credit for all home buyers and not just first time home buyers. Unfortunately the bill came up a little short and is only providing an $8,000 credit to first time home buyers with no repayment. Still a great deal, but it fell short of what many people (including me!) were hoping for.
What do you think?