Will the stimulus package make the $7,500 first time buyer credit a true credit?
CNN is reporting that the new stimulus package being reviewed by congress has a stipulation in it that will make the $7,500 first time buyer credit a true credit, not a 0% interest loan that needs to be paid back. Apparently the response to the original incentive has not been very positive so the logic goes that if the government makes it a true tax credit it will stimulate more purchases. The estimate is that it will stimulate an additional 10% in home purchases.
Your friend in the Real Estate business,
Shelli Dore
www.ShelliDore.com