Question : Did the final version of Foreclosure Act include the $7000 credit for the purchase of a foreclosed home?
I purchased a foreclosure in June 2008. I know the Foreclosure Prevention Act underwent many revisions. Does anyone know if the final version which the President is expected to sign still includes the provision for the $7000 tax credit for the purchase of owner occupied foreclosed homes? I am not a first time homebuyer.
- asked by Stacey C
All Answers:
Answer #1
I had the same question as I also bought aforeclosure this year. I think this morphed intothe $7500 credit for all first time home buyers(not a homeowner within 3 years). However, it hasto be paid back to the gov't with 15 yrs, ie,$500/yr. This is the forum where I got theinfo.
http://forum.dvdtalk.com/showpost.php?p=8836174&postcount=47
- answered by Olivia S
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