Fine print in housing bill mutes benefits to consumers (at MarketWatch)

Ron Burgundy · #1 (**permalink**) 07-28-2008, 07:47 PM

One of the highlights of the housing bill waiting to be signed by President Bush is a tax credit of up to $7,500 for first-time home buyers. But read a little closer and it doesnâ??t seem quite as appealing for buyers: that credit has to be paid back.

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Greg · #2 (**permalink**) 07-31-2008, 10:59 AM

500 over the next 15 years interest free.. Ron you are wrong. Who would not want $7,500 over 15 years at 0 interest. It is a great thing. But, way to present it as a negative to those who do not understand how it works.

And this law states you are a 1st time home buyer if you have not owned in the past 3 years.

There were a lot of things in this bill I professionally did not support. But, I did support this idea. It will encourage people to buy homes.