Did the final version of Foreclosure Act include the $7000 credit for the purchase of a foreclosed home?
Nov 07, 2008 in
Law & Ethics
Stacey C
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.
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.
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One comment
Olivia S on November 10, 2008 at 10:05 pm
I had the same question as I also bought a foreclosure this year. I think this morphed into the $7500 credit for all first time home buyers (not a homeowner within 3 years). However, it has to be paid back to the gov’t with 15 yrs, ie, $500/yr.
This is the forum where I got the info.