Well, it was not the $15,000 that the Senate got everyone hot and bothered about (you can’t really expect them to do something totally right, can you?) a week and a half ago or so, but it is an improvement over the current $7,500 tax credit currently in place. Part of the new stimulus bill includes an $8,000 tax credit for first time buyers that no longer has to be paid back! It is also now good from when the bill is signed into law by the president through Dec 1 of this year.
Further details are still coming out. We’ll keep you posted. Be sure to discuss this with your accountant or tax advisor for tax implications and your specific situation.
If you are a first time buyer, or know of one - take advantage of this. There has never been anything like it offered before.