On Thursday the Senate passed an amendment to the stimulus package being debated in Congress that would greatly enhance the current Homebuyer Tax Credit.
Specifically, it would increase the credit to $15,000 and if the homeowner does not sell the house for the first two years of ownership there would be NO repayment.
I have a great chart which shows the current Homebuyer Tax Credit as well as the proposed changes, click HERE to see the chart.
Of course this is not law unless it is included in the final stimulus package signed by the President, so stay tuned!
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