I was just in the car listening to a talk show. The host had Sandy Dunn from the National Association of Home Builders. I thought I heard her say that the repayment requirement of the $7,500 tax credit has been removed. It is now a true tax credit instead of a long term loan.
Anyone else heard this? Is this true? I can't find anything online about this change.
I sure haven't heard about it. Maybe they were mistaken...
Oh my -- I certainly have NOT hear that! I would be very surprised.
Nope, haven't heard that either and I just checked online also. That would be GREAT, wouldn't it? If I find anything on it tomorrow I'll let you know :)
I haven't heard anything about this but will put in a phone call to my accountant tomorrow to see if he can shed some light.
I have not heard this, but there was talk it could happen. This would be fantastic! Will do some research.
Bill, as far as I know it hasn't been implemented yet, but there has been some significant discussion of removing the repayment requirement. It may be a part of the new stimulus package. We'll see.
Hi Bill
Removing the repayment of the $7,500.00 tax credit in a step in the right direction
Good luck and success
Lou Ludwig
Bill,
This is part of Obama's economic stimulus plan - which is yet to be passed.
I would rather have it than not, but I don't expect a significant increase in sales to be a result of it - this is a fairly minor credit considering home value declines.
Here you go. It has not been approved yet, but Congress is eyeing it... Link.