first time home buyer - tax credit

you have to pay back the tax credit.

there has been talk of changing it to where you do not have to repay it. As it stands now, it has to be repaid over 15 yrs.

when is this being voted on?

Here ya' go.

LINK

the senate version creates a new $15,000 that won't have to be paid back, but those people who bought in 2008 will fall under the $7,500 and it will have to be paid back. I think they are both dumb, but if you don't like the disparate treatment write to congress and tell them so.

Unfortunately no one in our congressional delegation has any influence any more, particularly on tax matters, so I write to the leaders from both parties and all of the members of the relevant committees when I'm in a tizzy. I know it does no good either, but sometimes it does make one feel better.

This provision will have a tough time in Committee with the house.... they are pissed that the author of the ammendment (Isaakson - GA) got it in but still did not vote for the bill.

If there are any compromises, this is fertile ground atleast for a hair cut.

Selfishly, if the government wants to subsidize me to the tune of $15K to flip to a better long term house for the family, I may have to oblige

Obama wants to sign off next week, but it is still up in the air... by late this week we should know if this provision survives