This is even better news than what I reported in August 2008. There is a possibility the recent stimulus plan could include eliminating the repayment of the $7,500 1st time home buyer credit. As it currently stands, the $7,500 tax credit is an interest free loan that needs to be repaid over 15 years. The new proposal would eliminate the repayment entirely and actually put money in homeowners pockets. To read this recent news story, visit Boston Herald For all the information, guidelines and FAQ's, visit the National Association of Home Builders website at NAHB If you purchased your first home between April 8, 2008, and July 1, 2009 and occupy it as your primary residence, you qualify for this credit. I highly recommend you apply for it when you file your 2008 taxes. Worst case scenario you get an interest free loan of $7,500 that needs to be paid back over 15 years. Best case scenario you get $7,500 for free!!!!!